Grid Dynamics (NASDAQ:GDYN – Free Report) had its price target boosted by Citigroup from $17.00 to $18.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.
Other research analysts also recently issued research reports about the stock. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $16.50.
Check Out Our Latest Stock Report on Grid Dynamics
Grid Dynamics Stock Performance
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The company had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis.
Insider Buying and Selling at Grid Dynamics
In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the sale, the chief executive officer now directly owns 3,520,901 shares in the company, valued at approximately $45,842,131.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total value of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares in the company, valued at approximately $45,842,131.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 958,387 shares of company stock valued at $12,311,004. 7.40% of the stock is owned by company insiders.
Institutional Trading of Grid Dynamics
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirador Capital Partners LP increased its position in Grid Dynamics by 0.8% during the 2nd quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock worth $1,297,000 after purchasing an additional 954 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Grid Dynamics by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after acquiring an additional 1,184 shares in the last quarter. Trust Point Inc. grew its position in Grid Dynamics by 5.0% in the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock valued at $452,000 after acquiring an additional 1,532 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Grid Dynamics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position 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 acquiring an additional 1,770 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.
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.
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