Grid Dynamics (NASDAQ:GDYN) PT Lowered to $15.00

Grid Dynamics (NASDAQ:GDYN) had its price objective reduced by Citigroup from $17.00 to $15.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

GDYN has been the subject of several other research reports. Cantor Fitzgerald boosted their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an overweight rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grid Dynamics has an average rating of Buy and an average target price of $15.75.

Grid Dynamics Stock Down 2.9 %

NASDAQ:GDYN opened at $9.94 on Monday. The stock has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $12.45. Grid Dynamics has a 52-week low of $8.00 and a 52-week high of $14.70. The company has a market capitalization of $755.14 million, a PE ratio of -331.22 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The firm had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. During the same period in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Grid Dynamics will post 0.07 earnings per share for the current year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the completion of the sale, the chief executive officer now owns 3,513,456 shares in the company, valued at approximately $45,956,004.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the completion of the sale, the chief executive officer now owns 3,513,456 shares in the company, valued at approximately $45,956,004.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the sale, the chief financial officer now owns 395,568 shares of the company’s stock, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. Insiders sold 100,884 shares of company stock worth $1,265,155 in the last 90 days. 7.40% of the stock is owned by company insiders.

Institutional Trading of Grid Dynamics

A number of institutional investors have recently modified their holdings of GDYN. International Assets Investment Management LLC purchased a new stake in shares of Grid Dynamics during the 4th quarter worth about $26,000. SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics during the 3rd quarter worth about $142,000. American Trust grew its holdings in shares of Grid Dynamics by 10.1% during the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after purchasing an additional 1,186 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of Grid Dynamics during the 3rd quarter worth about $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Grid Dynamics by 147.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after purchasing an additional 9,081 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

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.