Thrivent Financial for Lutherans Purchases New Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Thrivent Financial for Lutherans purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 47,721 shares of the company's stock, valued at approximately $1,061,000. Thrivent Financial for Lutherans owned about 0.06% of Grid Dynamics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GDYN. William Blair Investment Management LLC purchased a new stake in Grid Dynamics during the 4th quarter worth approximately $22,192,000. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after buying an additional 1,282 shares during the period. Swiss National Bank grew its holdings in shares of Grid Dynamics by 7.8% during the fourth quarter. Swiss National Bank now owns 120,600 shares of the company's stock valued at $2,682,000 after buying an additional 8,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Grid Dynamics in the 4th quarter valued at $3,933,000. Finally, HighTower Advisors LLC raised its stake in Grid Dynamics by 20.6% in the 4th quarter. HighTower Advisors LLC now owns 14,525 shares of the company's stock worth $323,000 after acquiring an additional 2,477 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Grid Dynamics Stock Down 3.0 %

Shares of GDYN traded down $0.43 during mid-day trading on Friday, reaching $13.72. The company had a trading volume of 870,524 shares, compared to its average volume of 591,823. The stock has a market capitalization of $1.15 billion, a P/E ratio of 343.00 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The stock has a 50 day moving average of $19.47 and a two-hundred day moving average of $18.35.

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Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $19.60.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares in the company, valued at $8,214,979.08. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,306 shares of company stock valued at $376,590. Corporate insiders own 7.20% of the company's stock.

Grid Dynamics Company Profile

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.