Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 176,843 shares of the company's stock, valued at approximately $3,933,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.21% of Grid Dynamics as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GDYN. MCF Advisors LLC lifted its stake in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after acquiring an additional 740 shares during the period. FMR LLC lifted its position in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after purchasing an additional 801 shares during the period. Harbor Capital Advisors Inc. boosted its holdings 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 purchasing an additional 1,036 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Grid Dynamics during the 4th quarter valued at $27,000. Finally, Arizona State Retirement System lifted its holdings in shares of Grid Dynamics by 7.6% during the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock valued at $396,000 after buying an additional 1,260 shares during the period. 71.18% of the stock is owned by institutional investors.
Grid Dynamics Stock Down 4.1 %
GDYN traded down $0.70 during midday trading on Thursday, reaching $16.35. The company had a trading volume of 477,125 shares, compared to its average volume of 782,895. The business has a 50-day moving average of $20.56 and a two-hundred day moving average of $18.23. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The company has a market cap of $1.37 billion, a P/E ratio of 408.75 and a beta of 1.10.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. On average, equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.
Insider Buying and Selling at Grid Dynamics
In related news, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction on Friday, February 7th. The shares were 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 in the company, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the chief operating officer now owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock valued at $376,590 over the last ninety days. 7.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Separately, Needham & Company LLC lifted their price objective on 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's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $19.60.
Read Our Latest Stock Analysis on Grid Dynamics
Grid Dynamics Company Profile
(
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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