Grid Dynamics (NASDAQ:GDYN) Sees Unusually-High Trading Volume

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) shares saw unusually-high trading volume on Tuesday . Approximately 192,155 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 295,348 shares.The stock last traded at $10.52 and had previously closed at $10.64.

Wall Street Analysts Forecast Growth

GDYN has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Cantor Fitzgerald boosted their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grid Dynamics presently has an average rating of “Buy” and an average target price of $16.25.

Grid Dynamics Stock Performance

The company’s fifty day simple moving average is $12.77 and its two-hundred day simple moving average is $12.55. The stock has a market capitalization of $814.40 million, a PE ratio of -351.55 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The firm had revenue of $78.07 million for the quarter, compared to analyst estimates of $76.64 million. During the same period in the prior year, the business earned $0.14 earnings per share. Grid Dynamics’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $13.08, for a total value of $196,200.00. Following the sale, the chief executive officer now directly owns 3,513,456 shares of the company’s stock, valued at $45,956,004.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $13.08, for a total value of $196,200.00. Following the sale, the chief executive officer now directly owns 3,513,456 shares of the company’s stock, valued at $45,956,004.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.26, for a total transaction of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The disclosure for this sale can be found here. Insiders have sold 90,884 shares of company stock valued at $1,159,755 in the last ninety days. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GDYN. Wasatch Advisors Inc. raised its stake in shares of Grid Dynamics by 101.7% during the first quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock valued at $72,215,000 after purchasing an additional 2,585,803 shares during the period. Toronado Partners LLC increased its stake in Grid Dynamics by 166.5% during the first quarter. Toronado Partners LLC now owns 2,117,679 shares of the company’s stock valued at $29,817,000 after purchasing an additional 1,323,046 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Grid Dynamics during the first quarter valued at $13,513,000. Wellington Management Group LLP increased its stake in Grid Dynamics by 113.9% during the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after purchasing an additional 789,373 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Grid Dynamics by 684.1% during the fourth quarter. JPMorgan Chase & Co. now owns 776,306 shares of the company’s stock valued at $8,711,000 after purchasing an additional 677,301 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

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.