Grid Dynamics (NASDAQ:GDYN) Stock Price Down 3.5% – Time to Sell?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s stock price was down 3.5% during trading on Friday . The stock traded as low as $18.30 and last traded at $18.34. Approximately 136,729 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 377,447 shares. The stock had previously closed at $19.01.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GDYN shares. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen increased their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Citigroup raised their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note 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.com, the company currently has an average rating of “Buy” and a consensus target price of $17.50.

Grid Dynamics Trading Down 3.7 %

The company’s fifty day moving average is $15.91 and its 200 day moving average is $13.18. The company has a market capitalization of $1.51 billion, a P/E ratio of 633.88 and a beta of 1.04.

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

Insider Buying and Selling

In other Grid Dynamics news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 950,387 shares of company stock valued at $12,239,324. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDYN. FMR LLC lifted its holdings in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares during the last quarter. Quarry LP lifted its holdings in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after acquiring an additional 2,974 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Grid Dynamics during the 3rd quarter worth $122,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Grid Dynamics by 21.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter worth $153,000. 71.18% of the stock is owned by institutional investors.

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.