Oppenheimer Asset Management Inc. Has $1.36 Million Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Oppenheimer Asset Management Inc. reduced its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,815 shares of the company’s stock after selling 2,535 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.13% of Grid Dynamics worth $1,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC grew its holdings in Grid Dynamics by 43.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock valued at $7,429,000 after purchasing an additional 182,052 shares during the period. Comerica Bank grew its holdings in shares of Grid Dynamics by 198.8% in the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after buying an additional 51,778 shares during the period. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after buying an additional 64,300 shares in the last quarter. Fourth Sail Capital LP increased its position in shares of Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after buying an additional 446,477 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Grid Dynamics during the third quarter worth about $1,143,000. 71.18% of the stock is owned by institutional investors.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.66, for a total value of $52,980.00. Following the sale, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 950,387 shares of company stock worth $12,239,324 in the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Grid Dynamics Trading Down 4.6 %

Shares of GDYN stock opened at $16.25 on Monday. The firm’s fifty day moving average price is $15.19 and its two-hundred day moving average price is $12.74. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $19.86. The firm has a market capitalization of $1.25 billion, a P/E ratio of 541.85 and a beta of 1.04.

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 business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Grid Dynamics’s quarterly revenue was up 12.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GDYN. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen increased their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $17.50.

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.