Next Century Growth Investors LLC Purchases 711,150 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Next Century Growth Investors LLC increased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 78.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,622,226 shares of the company's stock after purchasing an additional 711,150 shares during the period. Grid Dynamics accounts for 2.7% of Next Century Growth Investors LLC's holdings, making the stock its 3rd biggest holding. Next Century Growth Investors LLC owned about 1.97% of Grid Dynamics worth $36,078,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Grid Dynamics during the 4th quarter valued at $55,114,000. State Street Corp boosted its position in shares of Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after purchasing an additional 6,938 shares in the last quarter. Geode Capital Management LLC grew its stake in Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock worth $31,895,000 after buying an additional 52,344 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Grid Dynamics during the 4th quarter valued at about $22,192,000. Hedge funds and other institutional investors own 71.18% of the company's stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC upped their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $19.60.

Grid Dynamics Stock Up 1.6 %

Shares of NASDAQ:GDYN traded up $0.21 during midday trading on Thursday, reaching $13.18. The company's stock had a trading volume of 379,631 shares, compared to its average volume of 602,253. The firm has a market capitalization of $1.10 billion, a PE ratio of 328.63 and a beta of 0.99. The stock has a fifty day moving average of $17.51 and a 200 day moving average of $18.32. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its earnings results 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 company had revenue of $100.28 million during the quarter, compared to analysts' expectations of $96.00 million. Sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Anil Doradla sold 2,000 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 $8,214,979.08. This represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics 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 completion of the transaction, the chief operating officer now owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,043 shares of company stock valued at $349,078 in the last three months. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics 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.