Cantor Fitzgerald Reaffirms Overweight Rating for Grid Dynamics (NASDAQ:GDYN)

Cantor Fitzgerald reissued their overweight rating on shares of Grid Dynamics (NASDAQ:GDYN) in a report published on Friday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Grid Dynamics from $11.00 to $14.00 and gave the company an overweight rating in a research note on Tuesday, August 22nd. Needham & Company LLC restated a buy rating and set a $14.00 price objective on shares of Grid Dynamics in a report on Friday, August 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $14.00.

Grid Dynamics Stock Down 0.4 %

Grid Dynamics stock opened at $12.15 on Friday. The firm has a market cap of $918.42 million, a P/E ratio of -75.94 and a beta of 0.80. The business has a fifty day moving average of $11.64 and a two-hundred day moving average of $10.62. Grid Dynamics has a twelve month low of $8.00 and a twelve month high of $14.16.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, Director Lloyd Carney sold 18,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $11.61, for a total value of $213,624.00. Following the transaction, the director now directly owns 659,262 shares of the company’s stock, valued at approximately $7,654,031.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

Several large investors have recently added to or reduced their stakes in GDYN. Wasatch Advisors LP lifted its position in shares of Grid Dynamics by 26.6% during the 2nd quarter. Wasatch Advisors LP now owns 7,225,346 shares of the company’s stock worth $66,834,000 after buying an additional 1,517,395 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Grid Dynamics by 0.8% during the third quarter. BlackRock Inc. now owns 5,585,887 shares of the company’s stock worth $104,626,000 after purchasing an additional 43,436 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Grid Dynamics by 101.7% during the first quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock worth $72,215,000 after purchasing an additional 2,585,803 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Grid Dynamics by 3.5% in the 2nd quarter. Riverbridge Partners LLC now owns 3,684,687 shares of the company’s stock valued at $34,083,000 after purchasing an additional 126,059 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in shares of Grid Dynamics by 17.6% in the 4th quarter. Bamco Inc. NY now owns 3,000,000 shares of the company’s stock valued at $33,660,000 after purchasing an additional 450,000 shares during the period. 69.68% of the stock is owned by hedge funds and other institutional investors.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.