Icon Wealth Advisors LLC Has $112,000 Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Icon Wealth Advisors LLC trimmed its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 32.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,009 shares of the company’s stock after selling 3,853 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Grid Dynamics were worth $112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fourth Sail Capital LP lifted its stake in shares of Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares during the period. Summit Creek Advisors LLC increased its holdings in Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after purchasing an additional 230,688 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after buying an additional 206,201 shares during the period. Rice Hall James & Associates LLC bought a new position in Grid Dynamics during the third quarter worth about $1,751,000. Finally, Renaissance Technologies LLC grew its position in shares of Grid Dynamics by 64.5% during the 2nd quarter. Renaissance Technologies LLC now owns 287,600 shares of the company’s stock worth $3,023,000 after buying an additional 112,800 shares during the period. 71.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares of the company’s stock, valued at approximately $177,781,542.40. This represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the transaction, the chief financial officer now owns 376,282 shares of the company’s stock, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 950,387 shares of company stock valued at $12,239,324 in the last quarter. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Trading Down 3.7 %

GDYN opened at $18.30 on Monday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 610.00 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $19.86. The firm’s fifty day simple moving average is $16.01 and its 200 day simple moving average is $13.27.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Grid Dynamics’s revenue for the quarter was up 12.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. TD Cowen boosted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC raised their price objective on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup lifted their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.50.

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.