Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Position Cut by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC reduced its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,887 shares of the company's stock after selling 68,697 shares during the quarter. Grid Dynamics accounts for about 2.3% of Taylor Frigon Capital Management LLC's investment portfolio, making the stock its largest position. Taylor Frigon Capital Management LLC owned 0.24% of Grid Dynamics worth $4,490,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Amalgamated Bank increased its stake in Grid Dynamics by 817.0% in the 4th quarter. Amalgamated Bank now owns 17,918 shares of the company's stock worth $398,000 after acquiring an additional 15,964 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock valued at $8,500,000 after acquiring an additional 186,661 shares during the period. Global Retirement Partners LLC purchased a new stake in Grid Dynamics in the 4th quarter worth approximately $27,000. New York State Common Retirement Fund lifted its holdings in Grid Dynamics by 565.5% in the 4th quarter. New York State Common Retirement Fund now owns 89,673 shares of the company's stock worth $1,994,000 after buying an additional 76,198 shares during the period. Finally, Rice Hall James & Associates LLC lifted its holdings in Grid Dynamics by 51.2% in the 4th quarter. Rice Hall James & Associates LLC now owns 189,086 shares of the company's stock worth $4,205,000 after buying an additional 64,002 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Down 1.5 %

Shares of Grid Dynamics stock traded down $0.29 on Friday, reaching $18.82. The company's stock had a trading volume of 952,655 shares, compared to its average volume of 798,158. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 470.50 and a beta of 1.01. The firm's fifty day simple moving average is $21.61 and its two-hundred day simple moving average is $17.87. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 8,000 shares of company stock valued at $171,780. Corporate insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC raised their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $19.17.

Grid Dynamics 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.