Grid Dynamics (NASDAQ:GDYN) Shares Down 3.5% – Should You Sell?

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) were down 3.5% during trading on Wednesday . The stock traded as low as $21.04 and last traded at $20.73. Approximately 36,941 shares changed hands during trading, a decline of 94% from the average daily volume of 660,198 shares. The stock had previously closed at $21.49.

Analysts Set New Price Targets

GDYN has been the subject of several research reports. Citigroup boosted 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. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen raised their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five equities 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, Grid Dynamics presently has an average rating of “Buy” and an average price target of $18.33.

Grid Dynamics Stock Down 1.0 %

The stock has a 50 day simple moving average of $20.26 and a 200 day simple moving average of $16.40. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 713.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $0.08 EPS. Grid Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at $6,645,140.12. This represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 13,000 shares of company stock valued at $247,220. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GDYN. MCF Advisors LLC increased its holdings in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares during the last quarter. FMR LLC raised its holdings in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. Quarry LP boosted its stake in Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares during the last quarter. Quantbot Technologies LP acquired a new position in Grid Dynamics during the 3rd quarter worth $122,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Grid Dynamics in the 4th quarter worth about $222,000. Institutional investors and hedge funds own 71.18% 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.