Charles Schwab Investment Management Inc. Has $6.50 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Charles Schwab Investment Management Inc. lifted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 464,206 shares of the company’s stock after buying an additional 13,785 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of Grid Dynamics worth $6,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of Grid Dynamics during the second quarter worth $117,000. XTX Topco Ltd acquired a new stake in shares of Grid Dynamics during the second quarter worth about $129,000. Mount Yale Investment Advisors LLC bought a new position in Grid Dynamics in the second quarter valued at approximately $141,000. Intech Investment Management LLC bought a new stake in shares of Grid Dynamics during the third quarter worth $153,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Grid Dynamics by 17.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock worth $188,000 after purchasing an additional 2,673 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $19.08, for a total value of $57,240.00. Following the sale, the chief financial officer now owns 373,282 shares in the company, valued at approximately $7,122,220.56. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $605,210 in the last ninety days. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $19.63 on Thursday. The company’s 50 day moving average price is $16.71 and its two-hundred day moving average price is $13.70. The firm has a market capitalization of $1.62 billion, a P/E ratio of 666.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $20.34.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping 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 analyst estimates of $85.09 million. During the same quarter in the previous year, the company posted $0.08 EPS. Grid Dynamics’s quarterly revenue was up 12.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GDYN. Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. TD Cowen lifted their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.