Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Major Shareholder Teamsun Technology Co. Beijing Sells 913,387 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Grid Dynamics Stock Performance

Grid Dynamics stock traded up $0.03 on Monday, reaching $13.93. The company’s stock had a trading volume of 254,363 shares, compared to its average volume of 337,098. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 464.33 and a beta of 1.06. The business’s fifty day moving average price is $13.03 and its 200 day moving average price is $11.60. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Grid Dynamics in a research report on Thursday, May 23rd. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Needham & Company LLC lifted their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grid Dynamics currently has an average rating of “Buy” and a consensus target price of $15.67.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Grid Dynamics in the second quarter valued at about $117,000. ProShare Advisors LLC bought a new position in shares of Grid Dynamics during the first quarter worth about $124,000. XTX Topco Ltd bought a new position in shares of Grid Dynamics during the second quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of Grid Dynamics during the second quarter worth about $141,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Company 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.