Calamos Advisors LLC Invests $233,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Calamos Advisors LLC purchased a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 4th quarter, HoldingsChannel reports. The firm purchased 17,505 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GDYN. SG Americas Securities LLC purchased a new position in shares of Grid Dynamics during the third quarter valued at approximately $142,000. Summit Creek Advisors LLC raised its stake in shares of Grid Dynamics by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 984,074 shares of the company’s stock valued at $11,986,000 after acquiring an additional 3,564 shares in the last quarter. Barclays PLC raised its stake in Grid Dynamics by 8.5% in the third quarter. Barclays PLC now owns 26,063 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares in the last quarter. Swiss National Bank raised its stake in Grid Dynamics by 1.1% in the third quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $1,504,000 after buying an additional 1,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Grid Dynamics by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock worth $5,218,000 after buying an additional 29,892 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $10.38 on Tuesday. The stock has a 50-day simple moving average of $12.41 and a 200-day simple moving average of $12.49. The stock has a market cap of $788.57 million, a P/E ratio of -345.88 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1 year low of $8.00 and a 1 year high of $14.70.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their price target on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Citigroup lowered their target price on shares of Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.75.

Insider Buying and Selling

In other news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on 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 of the company’s stock, valued at $45,956,004.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total transaction of $196,200.00. Following the transaction, the chief executive officer now owns 3,513,456 shares in the company, valued at $45,956,004.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the transaction, the chief financial officer now owns 395,568 shares in the company, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,884 shares of company stock valued at $1,159,755. 7.40% of the stock is owned by insiders.

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.