Charles Schwab Investment Management Inc. Buys 13,785 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Charles Schwab Investment Management Inc. boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 3.1% in the 3rd quarter, Holdings Channel reports. The firm owned 464,206 shares of the company’s stock after acquiring an additional 13,785 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Grid Dynamics were worth $6,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GDYN. Hsbc Holdings PLC purchased a new position in Grid Dynamics during the second quarter valued at approximately $117,000. XTX Topco Ltd purchased a new stake in shares of Grid Dynamics in the second quarter worth $129,000. Mount Yale Investment Advisors LLC purchased a new position in Grid Dynamics during the second quarter worth about $141,000. Intech Investment Management LLC bought a new position in Grid Dynamics in the 3rd quarter worth about $153,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Grid Dynamics by 17.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after acquiring an additional 2,673 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

GDYN stock opened at $19.63 on Thursday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 666.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $20.34. The business has a fifty day moving average price of $16.71 and a 200-day moving average price of $13.70.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the completion of the sale, the chief financial officer now owns 373,282 shares of the company’s stock, valued at $7,122,220.56. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock valued at $605,210. Company insiders own 7.20% of the company’s stock.

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.