Grid Dynamics (NASDAQ:GDYN) Shares Down 9.9% – Here’s What Happened

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s share price fell 9.9% on Monday . The stock traded as low as $6.17 and last traded at $6.1350. 752,356 shares were traded during trading, a decline of 41% from the average session volume of 1,279,586 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

GDYN has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Finally, Needham & Company LLC decreased their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Grid Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Grid Dynamics Trading Down 9.5%

The firm has a fifty day moving average of $8.51 and a two-hundred day moving average of $8.33. The company has a market cap of $522.18 million, a PE ratio of 41.07 and a beta of 0.82.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the firm’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 value 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 approximately $3,448,520. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.50% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its position in shares of Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after acquiring an additional 2,057 shares during the period. GAMMA Investing LLC increased its holdings in Grid Dynamics by 273.2% during the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after acquiring an additional 2,634 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Grid Dynamics in the 2nd quarter worth approximately $43,000. SBI Securities Co. Ltd. bought a new position in Grid Dynamics in the 3rd quarter valued at $31,000. Finally, Quarry LP grew its position in shares of Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after purchasing an additional 1,757 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.