Truist Financial Corp Has $1.03 Million Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Truist Financial Corp increased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) by 381.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 55,073 shares of the company’s stock after purchasing an additional 43,624 shares during the period. Truist Financial Corp’s holdings in Grid Dynamics were worth $1,031,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Riverbridge Partners LLC increased its holdings in Grid Dynamics by 26.8% during the third quarter. Riverbridge Partners LLC now owns 3,804,475 shares of the company’s stock worth $71,258,000 after buying an additional 802,968 shares during the last quarter. AE Wealth Management LLC acquired a new position in Grid Dynamics during the third quarter worth $565,000. Calamos Advisors LLC acquired a new position in Grid Dynamics during the third quarter worth $2,063,000. Captrust Financial Advisors increased its holdings in Grid Dynamics by 197.2% during the second quarter. Captrust Financial Advisors now owns 4,619 shares of the company’s stock worth $78,000 after buying an additional 3,065 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Grid Dynamics by 30.4% during the second quarter. Legal & General Group Plc now owns 22,825 shares of the company’s stock worth $384,000 after buying an additional 5,327 shares during the last quarter. 68.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 60,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $12.48, for a total transaction of $748,800.00. Following the completion of the sale, the director now owns 708,709 shares of the company’s stock, valued at $8,844,688.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.80% of the stock is currently owned by company insiders.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $11.92 on Friday. The firm has a 50-day moving average of $11.70 and a 200-day moving average of $15.51. The stock has a market cap of $882.07 million, a PE ratio of -30.56 and a beta of 0.82. Grid Dynamics Holdings, Inc. has a 52-week low of $9.09 and a 52-week high of $29.35.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $81.16 million during the quarter, compared to analysts’ expectations of $78.82 million. Grid Dynamics had a negative net margin of 8.81% and a positive return on equity of 12.78%. Equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDYN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Grid Dynamics from $18.00 to $17.00 in a report on Thursday, December 15th. Citigroup decreased their price objective on shares of Grid Dynamics from $27.00 to $18.00 in a report on Friday, November 4th. Finally, Needham & Company LLC decreased their price objective on shares of Grid Dynamics from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, November 4th.

About Grid Dynamics

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Grid Dynamics Holdings, Inc provides digital engineering and information technology services. The firm core business is to deliver focused and complex technical consulting, software design, development, testing and internet service operations. It also helps organizations become more agile and create innovative digital products and experiences through its deep expertise in emerging technology, such as AI, data science, cloud computing, big data and DevOps, lean software development practices and a performance product culture.