Grid Dynamics (NASDAQ:GDYN) Sees Large Volume Increase – What’s Next?

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw unusually-strong trading volume on Tuesday . Approximately 253,674 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 417,146 shares.The stock last traded at $22.91 and had previously closed at $22.50.

Analyst Upgrades and Downgrades

GDYN has been the topic of a number of recent analyst reports. Needham & Company LLC raised their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. TD Cowen lifted their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.33.

Grid Dynamics Price Performance

The stock has a market cap of $1.83 billion, a P/E ratio of 741.58 and a beta of 1.06. The stock’s 50 day simple moving average is $18.53 and its two-hundred day simple moving average is $14.90.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million for the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.66, for a total value of $52,980.00. Following the sale, the chief financial officer now owns 380,282 shares of the company’s stock, valued at $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $399,260 over the last three months. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares during the last quarter. Quarry LP raised its stake in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $122,000. Intech Investment Management LLC bought a new position in shares of Grid Dynamics in the third quarter valued at $153,000. Finally, Hsbc Holdings PLC acquired a new position in Grid Dynamics during the second quarter worth $117,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.