Mirador Capital Partners LP Has $1.11 Million Position in Grid Dynamics Holdings, Inc. $GDYN

Mirador Capital Partners LP lifted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 114.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 144,519 shares of the company’s stock after buying an additional 77,173 shares during the quarter. Mirador Capital Partners LP owned about 0.17% of Grid Dynamics worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GDYN. Caitong International Asset Management Co. Ltd grew its position in Grid Dynamics by 28,150.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after buying an additional 1,689 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Grid Dynamics by 199.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock valued at $36,000 after purchasing an additional 1,526 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Grid Dynamics during the second quarter worth about $43,000. Tower Research Capital LLC TRC raised its holdings in Grid Dynamics by 208.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock valued at $72,000 after buying an additional 4,197 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Grid Dynamics in the second quarter worth $117,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GDYN shares. JPMorgan Chase & Co. cut their price target on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Needham & Company LLC lowered their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Jefferies Financial Group initiated coverage on Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings upgraded Grid Dynamics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $9.67 on Wednesday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $7.37 and a fifty-two week high of $25.50. The stock has a market cap of $819.73 million, a P/E ratio of 64.47 and a beta of 0.85. The stock has a 50 day simple moving average of $8.57 and a two-hundred day simple moving average of $9.23.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The business had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. During the same period in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 4,368 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the transaction, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.50% of the stock is owned by company insiders.

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.