Rice Hall James & Associates LLC Invests $1.75 Million in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Rice Hall James & Associates LLC acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 125,084 shares of the company’s stock, valued at approximately $1,751,000. Rice Hall James & Associates LLC owned approximately 0.16% of Grid Dynamics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirador Capital Partners LP boosted its holdings in shares of Grid Dynamics by 0.8% in the 2nd quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock worth $1,297,000 after purchasing an additional 954 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after acquiring an additional 1,184 shares during the last quarter. Trust Point Inc. lifted its stake in shares of Grid Dynamics by 5.0% in the 3rd quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock valued at $452,000 after acquiring an additional 1,532 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Grid Dynamics by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after acquiring an additional 1,770 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

GDYN opened at $15.24 on Friday. The business has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $12.20. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -1,522.48 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $17.66.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm had revenue of $83.04 million during the quarter, compared to analyst estimates of $81.06 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue was up 7.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GDYN. Needham & Company LLC boosted their target price on Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen boosted their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Finally, Citigroup upped their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average price target of $17.50.

Insider Transactions at Grid Dynamics

In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the transaction, the insider now owns 13,889,183 shares of the company’s stock, valued at approximately $177,781,542.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now owns 3,475,901 shares in the company, valued at $47,724,120.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 958,387 shares of company stock valued at $12,311,004. Corporate insiders own 7.40% of the company’s stock.

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.