Amalgamated Bank boosted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 817.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,918 shares of the company's stock after buying an additional 15,964 shares during the period. Amalgamated Bank's holdings in Grid Dynamics were worth $398,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GDYN. Global Retirement Partners LLC acquired a new position in Grid Dynamics during the fourth quarter worth about $27,000. FMR LLC lifted its stake in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after purchasing an additional 801 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after purchasing an additional 740 shares during the last quarter. Quarry LP grew its position in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the third quarter valued at approximately $122,000. Institutional investors and hedge funds own 71.18% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Needham & Company LLC boosted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Grid Dynamics currently has an average rating of "Buy" and a consensus target price of $19.17.
Read Our Latest Stock Report on GDYN
Insider Buying and Selling at Grid Dynamics
In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 8,000 shares of company stock valued at $171,780 in the last ninety days. Insiders own 7.20% of the company's stock.
Grid Dynamics Price Performance
Shares of NASDAQ:GDYN traded down $0.53 during trading on Thursday, hitting $18.38. 378,775 shares of the company were exchanged, compared to its average volume of 538,134. The firm's 50 day moving average price is $21.52 and its 200-day moving average price is $17.99. The stock has a market capitalization of $1.52 billion, a P/E ratio of 460.38 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.
Grid Dynamics Profile
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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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