Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) insider Stan Klimoff sold 12,000 shares in a trade dated Wednesday, September 7. The stock was sold at an average price of $19.80, for a total value of $237,600.00. Following the sale, the insider now directly owns 276,431 shares of the company, valued at $5,473,333.80. The sale was disclosed in an SEC filing, available on the SEC’s website.
Network Dynamics Stock Up 4.0%
Shares of NASDAQ:GDYN traded at $0.76 during Friday trading, hitting $19.84. 982,193 shares of the company were traded, compared to its average volume of 753,275. Grid Dynamics Holdings, Inc. has a fifty-two-week low of $9.09 and a fifty-two-week high of 42, $81. The company has a market capitalization of $1.34 billion, a PE ratio of -66.13 and a beta of 0.99. The company has a 50-day simple moving average of $19.05 and a 200-day simple moving average of $16.41.
Analysts set new price targets
Separately, Citigroup raised its price target on Grid Dynamics to $27.00 in a Tuesday, August 9 research report. One research analyst has rated the stock with a hold rating and three have assigned the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.60.
Institutional investors weigh on network dynamics
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Institutional investors have recently changed their stake in the company. Meeder Asset Management Inc. increased its position in Grid Dynamics shares by 120.8% during the first quarter. Meeder Asset Management Inc. now owns 2,422 shares of the company valued at $34,000 after acquiring an additional 1,325 shares during the period. Nisa Investment Advisors LLC increased its stake in Grid Dynamics by 58.5% in Q2. Nisa Investment Advisors LLC now owns 2,060 shares of the company valued at $35,000 after buying an additional 760 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Grid Dynamics in Q4, valued at around $40,000. AdvisorShares Investments LLC bought a new position in Grid Dynamics in Q2 worth approximately $42,000. Finally, Prospera Financial Services Inc bought a new position in Grid Dynamics in Q2 worth around $68,000. 66.15% of the shares are currently held by institutional investors and hedge funds.
Grid Dynamics Company Profile
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Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of research, analytics and release automation for Fortune 1000 companies in North America, in Europe and internationally. He works collaboratively with his clients on digital transformation initiatives that span strategy consulting, early prototypes and enterprise-wide delivery of new digital platforms.
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