Alpha DNA Investment Management LLC Takes Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Alpha DNA Investment Management LLC purchased a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,169 shares of the company's stock, valued at approximately $471,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Grid Dynamics in the 4th quarter valued at approximately $27,000. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after buying an additional 740 shares during the last quarter. FMR LLC lifted its position in Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after buying an additional 801 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Grid Dynamics by 68.4% during the 4th 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 last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $208,000. Institutional investors own 71.18% of the company's stock.

Analyst Ratings Changes

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

Grid Dynamics Price Performance

Grid Dynamics stock traded up $0.62 during midday trading on Wednesday, hitting $13.70. The company's stock had a trading volume of 708,406 shares, compared to its average volume of 608,504. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The company has a 50-day moving average price of $16.71 and a two-hundred day moving average price of $18.32. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 342.50 and a beta of 0.99.

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

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the transaction, the chief financial officer now owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock valued at $349,078 over the last three months. 7.20% of the stock is owned by insiders.

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.