Rice Hall James & Associates LLC Purchases 64,002 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Rice Hall James & Associates LLC raised its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 51.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,086 shares of the company's stock after buying an additional 64,002 shares during the quarter. Rice Hall James & Associates LLC owned about 0.23% of Grid Dynamics worth $4,205,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC raised 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 valued at $41,000 after buying an additional 740 shares during the last quarter. FMR LLC raised its stake 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 buying an additional 801 shares during the last quarter. Quarry LP raised its stake 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 buying an additional 2,974 shares during the last quarter. Quantbot Technologies LP purchased a new position in Grid Dynamics during the third quarter valued at $122,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Grid Dynamics during the fourth quarter valued at $222,000. Hedge funds and other institutional investors own 71.18% of the company's stock.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 8,000 shares of company stock valued at $171,780. Company insiders own 7.20% of the company's stock.

Grid Dynamics Stock Up 4.3 %

NASDAQ:GDYN traded up $0.89 during mid-day trading on Friday, hitting $21.37. 2,655,625 shares of the company traded hands, compared to its average volume of 774,796. The stock's fifty day moving average price is $21.64 and its 200-day moving average price is $17.62. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 712.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.04 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen boosted their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Grid Dynamics presently has a consensus rating of "Buy" and a consensus target price of $19.17.

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.