Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stake Lessened by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,608 shares of the company’s stock after selling 3,183 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Grid Dynamics were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in Grid Dynamics during the 3rd quarter valued at about $8,589,000. Vontobel Holding Ltd. acquired a new stake in shares of Grid Dynamics during the 3rd quarter valued at $1,143,000. Barclays PLC grew its holdings in shares of Grid Dynamics by 173.8% during the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after acquiring an additional 70,579 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after acquiring an additional 675,419 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after purchasing an additional 17,763 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the sale, the chief financial officer now owns 376,282 shares in the company, valued at approximately $6,645,140.12. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 13,000 shares of company stock valued at $247,220. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GDYN has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup lifted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, TD Cowen raised their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $18.33.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $21.52 on Thursday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $24.16. The firm has a fifty day moving average price of $20.26 and a two-hundred day moving average price of $16.40. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 717.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. During the same quarter last year, the firm posted $0.08 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Grid Dynamics 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.