Fourth Sail Capital LP Sells 81,152 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fourth Sail Capital LP reduced its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,661 shares of the company's stock after selling 81,152 shares during the period. Grid Dynamics makes up approximately 4.4% of Fourth Sail Capital LP's investment portfolio, making the stock its 9th biggest position. Fourth Sail Capital LP owned about 0.82% of Grid Dynamics worth $14,960,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GDYN. Global Retirement Partners LLC acquired a new position in shares of Grid Dynamics in the 4th quarter valued at approximately $27,000. FMR LLC increased its stake in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after acquiring an additional 801 shares during the last quarter. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% in the fourth 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 last quarter. Quarry LP raised its position in Grid Dynamics by 131.5% during 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 bought a new stake in Grid Dynamics during the third quarter worth $122,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their price target 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $19.17.

Insider Buying and Selling

In other news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 8,000 shares of company stock worth $171,780 in the last 90 days. Insiders own 7.20% of the company's stock.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock traded down $0.23 during midday trading on Monday, hitting $18.59. 1,024,705 shares of the company traded hands, compared to its average volume of 803,826. The firm's fifty day moving average price is $21.61 and its 200-day moving average price is $17.91. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 464.75 and a beta of 1.01. 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 posted its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share 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 company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share 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.