Keybank National Association OH Cuts Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Keybank National Association OH reduced its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,134 shares of the company’s stock after selling 2,684 shares during the period. Keybank National Association OH’s holdings in Grid Dynamics were worth $737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MCF Advisors LLC boosted its stake in shares of Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after buying an additional 740 shares during the last quarter. FMR LLC raised its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares during the period. Harbor Capital Advisors Inc. raised its holdings in 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 purchasing an additional 1,036 shares during the period. Global Retirement Partners LLC bought a new position in Grid Dynamics in the 4th quarter worth $27,000. Finally, Trust Point Inc. raised its holdings in Grid Dynamics by 7.9% in the 4th quarter. Trust Point Inc. now owns 34,832 shares of the company’s stock worth $775,000 after purchasing an additional 2,542 shares during the period. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their target price on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report 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 MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.17.

Grid Dynamics Stock Up 1.0 %

NASDAQ:GDYN opened at $18.42 on Friday. The business’s 50-day simple moving average is $21.37 and its two-hundred day simple moving average is $18.06. The stock has a market cap of $1.52 billion, a PE ratio of 460.50 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50.

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

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 dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the transaction, the chief financial officer now owns 341,012 shares in the company, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,306 shares of company stock valued at $364,090 over the last ninety days. 7.20% of the stock is currently owned by company insiders.

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.