Grid Dynamics (NASDAQ:GDYN) Shares Gap Down – Should You Sell?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) shares gapped down before the market opened on Friday . The stock had previously closed at $14.36, but opened at $13.95. Grid Dynamics shares last traded at $13.95, with a volume of 138,750 shares trading hands.

Analyst Ratings Changes

Separately, Needham & Company LLC raised their price target on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.60.

Grid Dynamics Stock Performance

The stock’s fifty day moving average is $14.65 and its two-hundred day moving average is $18.16. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 349.25 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the transaction, the chief financial officer now directly owns 366,818 shares of the company’s stock, valued at $6,639,405.80. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,043 shares of company stock valued at $327,338 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Grid Dynamics by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Grid Dynamics in the fourth quarter worth approximately $55,114,000. Dimensional Fund Advisors LP increased its position in shares of Grid Dynamics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company’s stock worth $40,399,000 after acquiring an additional 17,881 shares in the last quarter. Next Century Growth Investors LLC increased its position in shares of Grid Dynamics by 10.8% in the first quarter. Next Century Growth Investors LLC now owns 1,798,071 shares of the company’s stock worth $28,140,000 after acquiring an additional 175,845 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Grid Dynamics by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company’s stock worth $31,895,000 after acquiring an additional 52,344 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

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.