Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Short Interest Down 7.5% in January

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,350,000 shares, a decrease of 7.5% from the January 15th total of 3,620,000 shares. Based on an average trading volume of 996,500 shares, the short-interest ratio is currently 3.4 days. Currently, 4.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $171,780 in the last three months. Insiders own 7.20% of the company's stock.

Institutional Trading of Grid Dynamics

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after buying an additional 1,171,481 shares during the period. Wellington Management Group LLP raised its stake in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after buying an additional 675,419 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Grid Dynamics during the 4th quarter worth $55,114,000. Dimensional Fund Advisors LP raised its stake in Grid Dynamics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after buying an additional 17,881 shares during the period. Finally, Next Century Growth Investors LLC raised its stake in Grid Dynamics by 78.1% during the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after buying an additional 711,150 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Analyst Ratings Changes

GDYN has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. TD Cowen upped their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup increased their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Finally, Needham & Company LLC increased their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $19.17.

Grid Dynamics Price Performance

Shares of GDYN stock traded up $0.89 during trading hours on Friday, reaching $21.37. The company had a trading volume of 2,655,130 shares, compared to its average volume of 774,780. The company has a 50 day moving average of $21.60 and a 200 day moving average of $17.57. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 712.57 and a beta of 1.01. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. As a group, sell-side analysts forecast that Grid Dynamics will post 0.04 EPS for the current fiscal year.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.