HighTower Advisors LLC Buys 2,477 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

HighTower Advisors LLC boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,525 shares of the company’s stock after acquiring an additional 2,477 shares during the period. HighTower Advisors LLC’s holdings in Grid Dynamics were worth $323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GDYN. Intech Investment Management LLC bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at $153,000. Charles Schwab Investment Management Inc. lifted its holdings in Grid Dynamics by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after buying an additional 13,785 shares during the period. Quantbot Technologies LP bought a new stake in Grid Dynamics during the third quarter valued at $122,000. FMR LLC grew its holdings in Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of Grid Dynamics in the 3rd quarter worth about $207,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.60.

Grid Dynamics Stock Down 0.8 %

Grid Dynamics stock opened at $15.52 on Wednesday. The company has a market capitalization of $1.30 billion, a PE ratio of 388.00 and a beta of 1.10. The firm’s fifty day moving average is $19.74 and its 200 day moving average is $18.40. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 2,000 shares of the 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 transaction, the chief financial officer now directly owns 341,012 shares in the company, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares of the company’s stock, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,306 shares of company stock valued at $376,590. Company insiders own 7.20% of the company’s stock.

About Grid Dynamics

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.