Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,596 shares of the company's stock after purchasing an additional 41,390 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Grid Dynamics worth $11,244,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. State Street Corp raised its holdings in shares of Grid Dynamics by 0.5% in the third quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after acquiring an additional 6,938 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock valued at $19,344,000 after acquiring an additional 17,763 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Grid Dynamics during the 3rd quarter worth about $8,589,000. Finally, Bank of New York Mellon Corp increased its position in Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock worth $8,500,000 after purchasing an additional 186,661 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a report 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. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $19.60.

Grid Dynamics Stock Down 0.1 %

Shares of GDYN traded down $0.02 during mid-day trading on Tuesday, hitting $16.68. The company had a trading volume of 430,042 shares, compared to its average volume of 567,274. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The business's 50-day simple moving average is $20.30 and its 200-day simple moving average is $18.32. The stock has a market cap of $1.40 billion, a PE ratio of 417.00 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released 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 during the quarter, compared to analysts' expectations 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.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares of the company's stock, valued at $9,008,282.94. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the sale, the chief financial officer now owns 341,012 shares of the company's stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is currently owned by corporate insiders.

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.