Fourth Sail Capital LP Sells 16,111 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fourth Sail Capital LP reduced its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 753,813 shares of the company’s stock after selling 16,111 shares during the quarter. Grid Dynamics comprises approximately 2.7% of Fourth Sail Capital LP’s holdings, making the stock its 14th largest holding. Fourth Sail Capital LP owned 0.98% of Grid Dynamics worth $10,553,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. 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 worth $106,000 after acquiring an additional 1,770 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Grid Dynamics in the second quarter worth approximately $117,000. ProShare Advisors LLC bought a new position in shares of Grid Dynamics in the first quarter worth about $124,000. XTX Topco Ltd purchased a new position in shares of Grid Dynamics during the second quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Grid Dynamics during the 2nd quarter worth $141,000. Institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GDYN. TD Cowen upped their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $17.00 to $20.00 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.50.

Grid Dynamics Stock Down 4.6 %

Shares of Grid Dynamics stock opened at $16.25 on Monday. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $19.86. The firm’s 50 day moving average price is $15.19 and its 200-day moving average price is $12.74. The company has a market cap of $1.25 billion, a P/E ratio of 541.85 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data 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. The firm had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share.

Insider Buying and Selling at Grid Dynamics

In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the transaction, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the completion of the sale, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at approximately $6,645,140.12. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 950,387 shares of company stock valued at $12,239,324. 7.40% of the stock is owned by company insiders.

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.