Geode Capital Management LLC Purchases 52,344 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Geode Capital Management LLC lifted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,433,773 shares of the company's stock after acquiring an additional 52,344 shares during the period. Geode Capital Management LLC owned approximately 1.74% of Grid Dynamics worth $31,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GDYN. MCF Advisors LLC boosted its stake in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after acquiring an additional 740 shares in the last quarter. FMR LLC raised its holdings in shares of 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 position in shares of Grid Dynamics by 10.5% during the 4th 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 in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at about $27,000. Finally, Arizona State Retirement System increased its position in Grid Dynamics by 7.6% in 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 in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $13.97, for a total value of $27,940.00. Following the transaction, the chief operating officer now directly owns 476,269 shares in the company, valued at $6,653,477.93. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 19,043 shares of company stock worth $349,078 in the last three months. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Grid Dynamics presently has a consensus rating of "Buy" and a consensus price target of $19.60.

Grid Dynamics Stock Up 0.8 %

Grid Dynamics stock traded up $0.10 during midday trading on Tuesday, reaching $13.08. The stock had a trading volume of 455,291 shares, compared to its average volume of 608,104. The firm has a market capitalization of $1.10 billion, a PE ratio of 327.00 and a beta of 0.99. The firm's 50-day moving average price is $16.71 and its 200 day moving average price is $18.32. 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 announced 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). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million during the quarter, compared to analysts' expectations of $96.00 million. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.