American Century Companies Inc. Raises Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

American Century Companies Inc. grew its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 824.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 621,465 shares of the company's stock after buying an additional 554,275 shares during the period. American Century Companies Inc. owned approximately 0.75% of Grid Dynamics worth $13,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter valued at $8,589,000. SG Americas Securities LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $242,000. Barclays PLC lifted its stake in shares of Grid Dynamics by 173.8% during the 3rd quarter. Barclays PLC now owns 111,182 shares of the company's stock valued at $1,556,000 after buying an additional 70,579 shares in the last quarter. Wellington Management Group LLP increased its stake in Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after buying an additional 675,419 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Grid Dynamics by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock valued at $19,344,000 after acquiring an additional 17,763 shares during the period. 71.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the transaction, the chief operating officer now owns 480,759 shares of the company's stock, valued at approximately $8,062,328.43. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total value of $66,360.00. Following the sale, the chief financial officer now directly owns 343,012 shares in the company, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock valued at $376,590 in the last ninety days. Corporate insiders own 7.20% of the company's stock.

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Grid Dynamics Stock Down 9.5 %

GDYN traded down $1.48 during trading hours on Thursday, reaching $14.15. 721,079 shares of the company's stock traded hands, compared to its average volume of 590,713. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The firm has a market capitalization of $1.19 billion, a PE ratio of 353.75 and a beta of 1.10. The firm has a 50-day moving average price of $19.62 and a 200 day moving average price of $18.38.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $100.28 million during 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%. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC upped 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $19.60.

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.