Taylor Frigon Capital Management LLC Reduces Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Taylor Frigon Capital Management LLC reduced its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,887 shares of the company’s stock after selling 68,697 shares during the period. Grid Dynamics accounts for approximately 2.3% of Taylor Frigon Capital Management LLC’s holdings, making the stock its biggest position. Taylor Frigon Capital Management LLC owned approximately 0.24% of Grid Dynamics worth $4,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in Grid Dynamics in the third quarter worth about $8,589,000. SG Americas Securities LLC acquired a new position in shares of Grid Dynamics in the 4th quarter worth approximately $242,000. Barclays PLC raised its holdings in shares of Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after purchasing an additional 70,579 shares in the last quarter. Wellington Management Group LLP lifted its stake in Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Grid Dynamics by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after buying an additional 17,763 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen lifted their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC upped their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.17.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,000 shares of company stock worth $171,780 over the last ninety days. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Trading Down 2.1 %

Shares of NASDAQ:GDYN opened at $19.90 on Thursday. The business has a fifty day simple moving average of $21.67 and a 200 day simple moving average of $17.79. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 497.58 and a beta of 1.01.

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

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.