Mesirow Financial Investment Management Inc. Has $185,000 Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mesirow Financial Investment Management Inc. cut its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 23.4% in the first quarter, HoldingsChannel reports. The fund owned 15,052 shares of the company’s stock after selling 4,591 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Grid Dynamics were worth $185,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $26,000. American Trust raised its stake in shares of Grid Dynamics by 10.1% during the third quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after buying an additional 1,186 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Grid Dynamics by 147.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after buying an additional 9,081 shares during the last quarter. Olympiad Research LP bought a new stake in shares of Grid Dynamics during the fourth quarter worth approximately $211,000. Finally, Arizona State Retirement System raised its stake in shares of Grid Dynamics by 5.3% during the fourth quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock worth $225,000 after buying an additional 855 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total transaction of $105,400.00. Following the transaction, the chief executive officer now directly owns 3,660,691 shares of the company’s stock, valued at $38,583,683.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now directly owns 385,979 shares in the company, valued at $3,859,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $10.54, for a total transaction of $105,400.00. Following the sale, the chief executive officer now owns 3,660,691 shares in the company, valued at $38,583,683.14. The disclosure for this sale can be found here. Insiders have sold 75,000 shares of company stock valued at $777,810 over the last ninety days. 7.40% of the stock is currently owned by company insiders.

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.04 on Wednesday, hitting $10.53. 175,370 shares of the stock were exchanged, compared to its average volume of 328,449. The business’s fifty day moving average is $10.02 and its 200 day moving average is $11.79. Grid Dynamics Holdings, Inc. has a 52 week low of $9.00 and a 52 week high of $14.70. The company has a market capitalization of $805.76 million, a PE ratio of 352.45 and a beta of 1.05.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $79.82 million during the quarter, compared to the consensus estimate of $77.48 million. Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Cantor Fitzgerald upped their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Grid Dynamics in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Grid Dynamics in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.20.

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.