Royce & Associates LP Sells 96,970 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Royce & Associates LP decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 705,131 shares of the company’s stock after selling 96,970 shares during the quarter. Royce & Associates LP owned about 0.85% of Grid Dynamics worth $15,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after purchasing an additional 740 shares in the last quarter. FMR LLC increased its position in shares of Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Grid Dynamics by 10.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after acquiring an additional 1,036 shares during the last quarter. Global Retirement Partners LLC bought a new position in Grid Dynamics in the 4th quarter valued at about $27,000. Finally, Arizona State Retirement System boosted its stake in Grid Dynamics by 7.6% during the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock valued at $396,000 after purchasing an additional 1,260 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $19.60.

Insider Activity

In related news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total transaction of $33,540.00. Following the sale, the chief operating officer now directly owns 480,759 shares in the company, valued at approximately $8,062,328.43. This represents a 0.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock valued at $376,590 in the last ninety days. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $16.82 on Monday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The firm’s 50-day simple moving average is $20.84 and its 200 day simple moving average is $18.20. The stock has a market cap of $1.41 billion, a PE ratio of 420.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share 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 analysts’ expectations 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, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.