Dakota Wealth Management purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,723 shares of the company's stock, valued at approximately $283,000.
Several other hedge funds and other institutional investors also recently modified their holdings of GDYN. MCF Advisors LLC raised its position in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after purchasing an additional 740 shares in the last quarter. FMR LLC raised its holdings in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after buying an additional 801 shares in the last quarter. Quarry LP raised its holdings in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after buying an additional 2,974 shares in the last quarter. Quantbot Technologies LP bought a new stake in Grid Dynamics in the 3rd quarter worth approximately $122,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Grid Dynamics by 10.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company's stock worth $242,000 after buying an additional 1,036 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.
Grid Dynamics Trading Up 2.3 %
Shares of GDYN stock traded up $0.49 during mid-day trading on Friday, reaching $22.06. The stock had a trading volume of 470,669 shares, compared to its average volume of 1,388,916. The firm has a market capitalization of $1.82 billion, a PE ratio of 735.58 and a beta of 1.01. The stock's 50-day moving average price is $20.05 and its two-hundred day moving average price is $16.21. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $24.16.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. During the same quarter in the previous year, the business earned $0.08 EPS. Grid Dynamics's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, October 28th. TD Cowen lifted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price objective on Grid Dynamics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $18.33.
Check Out Our Latest Stock Analysis on GDYN
Insider Buying and Selling
In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares of the company's stock, valued at approximately $6,645,140.12. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 13,000 shares of company stock valued at $247,220 over the last quarter. 7.20% of the stock is owned by company insiders.
About Grid Dynamics
(
Free Report)
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.
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