New York Life Investment Management LLC Sells 4,895 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

New York Life Investment Management LLC trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYNFree Report) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,068 shares of the company’s stock after selling 4,895 shares during the quarter. New York Life Investment Management LLC’s holdings in Grid Dynamics were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GDYN. JPMorgan Chase & Co. lifted its stake in shares of Grid Dynamics by 161.0% in the first quarter. JPMorgan Chase & Co. now owns 175,617 shares of the company’s stock worth $2,473,000 after acquiring an additional 108,330 shares during the period. HighTower Advisors LLC lifted its stake in shares of Grid Dynamics by 4.2% in the first quarter. HighTower Advisors LLC now owns 16,568 shares of the company’s stock worth $225,000 after acquiring an additional 671 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Grid Dynamics by 239.0% in the first quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after acquiring an additional 4,115 shares during the period. MetLife Investment Management LLC lifted its stake in Grid Dynamics by 57.0% in the first quarter. MetLife Investment Management LLC now owns 23,054 shares of the company’s stock valued at $325,000 after buying an additional 8,370 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Grid Dynamics in the first quarter valued at approximately $642,000. 69.68% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Up 0.6 %

NASDAQ GDYN opened at $14.05 on Monday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -87.81 and a beta of 0.96. Grid Dynamics Holdings, Inc. has a 52 week low of $8.00 and a 52 week high of $14.23. The business has a 50 day moving average price of $13.16 and a 200-day moving average price of $12.12.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $12.49, for a total transaction of $49,960.00. Following the completion of the sale, the chief financial officer now owns 328,925 shares in the company, valued at $4,108,273.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $12.49, for a total transaction of $49,960.00. Following the completion of the sale, the chief financial officer now owns 328,925 shares in the company, valued at $4,108,273.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 18,400 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $11.61, for a total value of $213,624.00. Following the sale, the director now owns 659,262 shares of the company’s stock, valued at approximately $7,654,031.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,400 shares of company stock worth $1,100,704. 7.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GDYN has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of Grid Dynamics in a research note on Friday, November 17th. Citigroup boosted their price target on Grid Dynamics from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Grid Dynamics in a research note on Monday, November 20th. Finally, TheStreet raised Grid Dynamics from a “d+” rating to a “c-” rating in a research note on Tuesday, December 12th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.50.

View Our Latest Research Report on GDYN

Grid Dynamics Profile

(Free Report)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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