Linden Thomas Advisory Services LLC Trims Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Linden Thomas Advisory Services LLC reduced its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 103,128 shares of the company’s stock after selling 1,206 shares during the period. Linden Thomas Advisory Services LLC owned 0.14% of Grid Dynamics worth $1,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its stake in Grid Dynamics by 5.3% during the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after acquiring an additional 855 shares during the last quarter. American Trust raised its stake in Grid Dynamics by 10.1% during the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after acquiring an additional 1,186 shares during the last quarter. Swiss National Bank raised its stake in Grid Dynamics by 1.1% during the 3rd quarter. Swiss National Bank now owns 123,500 shares of the company’s stock valued at $1,504,000 after acquiring an additional 1,300 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Grid Dynamics during the 4th quarter valued at approximately $26,000. Finally, Barclays PLC raised its stake in Grid Dynamics by 8.5% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock valued at $318,000 after acquiring an additional 2,036 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on GDYN shares. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Cantor Fitzgerald boosted their target price on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, Citigroup dropped their target price on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grid Dynamics currently has an average rating of “Buy” and an average price target of $15.75.

Grid Dynamics Stock Performance

NASDAQ GDYN traded down $0.17 on Wednesday, hitting $10.25. 97,163 shares of the company’s stock were exchanged, compared to its average volume of 300,336. The firm’s 50-day moving average price is $12.36 and its two-hundred day moving average price is $12.48. Grid Dynamics Holdings, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Research analysts expect that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the sale, the chief executive officer now owns 3,513,456 shares in the company, valued at approximately $45,956,004.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total transaction of $53,040.00. Following the sale, the chief financial officer now owns 395,568 shares in the company, valued at approximately $5,245,231.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $13.08, for a total value of $196,200.00. Following the sale, the chief executive officer now owns 3,513,456 shares in the company, valued at approximately $45,956,004.48. The disclosure for this sale can be found here. Insiders have sold a total of 90,884 shares of company stock worth $1,159,755 in the last quarter. Company insiders own 7.40% 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.