Rice Hall James & Associates LLC Sells 56,099 Shares of Grid Dynamics Holdings, Inc. $GDYN

Rice Hall James & Associates LLC cut its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 32.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,940 shares of the company’s stock after selling 56,099 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Grid Dynamics were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GDYN. Pacer Advisors Inc. bought a new position in Grid Dynamics during the third quarter valued at about $1,199,000. Harbor Capital Advisors Inc. grew its position in shares of Grid Dynamics by 28.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,673 shares of the company’s stock valued at $175,000 after acquiring an additional 5,080 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Grid Dynamics by 113.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,386 shares of the company’s stock worth $242,000 after purchasing an additional 16,697 shares during the last quarter. Mirador Capital Partners LP raised its holdings in shares of Grid Dynamics by 114.6% in the 3rd quarter. Mirador Capital Partners LP now owns 144,519 shares of the company’s stock worth $1,114,000 after purchasing an additional 77,173 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Grid Dynamics by 22.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,529 shares of the company’s stock worth $283,000 after purchasing an additional 4,472 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Jefferies Financial Group assumed coverage on Grid Dynamics in a research note on Monday, September 22nd. They set a “buy” rating and a $11.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is currently owned by insiders.

Grid Dynamics Stock Up 0.1%

Shares of NASDAQ GDYN opened at $9.28 on Friday. The company has a market cap of $786.66 million, a P/E ratio of 61.87 and a beta of 0.85. Grid Dynamics Holdings, Inc. has a 52 week low of $7.37 and a 52 week high of $25.50. The business has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $9.10.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The firm had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Grid Dynamics Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.