Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Major Shareholder Teamsun Technology Co. Beijing Sells 913,387 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Grid Dynamics Stock Up 0.2 %

Shares of GDYN traded up $0.03 during midday trading on Monday, hitting $13.93. The company’s stock had a trading volume of 254,363 shares, compared to its average volume of 337,098. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $14.70. The company’s fifty day simple moving average is $13.03 and its two-hundred day simple moving average is $11.60. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 464.33 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. Grid Dynamics’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Grid Dynamics in the 2nd quarter valued at about $117,000. ProShare Advisors LLC acquired a new position in shares of Grid Dynamics in the 1st quarter valued at about $124,000. XTX Topco Ltd bought a new stake in Grid Dynamics in the 2nd quarter valued at about $129,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Grid Dynamics in the 2nd quarter valued at about $141,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Citigroup lowered their target price on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.67.

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.