Quantbot Technologies LP Acquires 33,546 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Quantbot Technologies LP increased its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 384.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,277 shares of the company's stock after acquiring an additional 33,546 shares during the period. Quantbot Technologies LP owned 0.05% of Grid Dynamics worth $940,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Grid Dynamics during the fourth quarter valued at approximately $5,012,000. Maryland State Retirement & Pension System bought a new position in Grid Dynamics in the 4th quarter worth $463,000. Intech Investment Management LLC lifted its position in Grid Dynamics by 161.8% during the 4th quarter. Intech Investment Management LLC now owns 28,669 shares of the company's stock worth $638,000 after acquiring an additional 17,718 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Grid Dynamics during the fourth quarter valued at about $1,061,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $22,192,000. 71.18% of the stock is owned by institutional investors.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the company's 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 transaction, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Separately, Needham & Company LLC increased their target price 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $19.60.

Grid Dynamics Stock Down 2.9 %

Grid Dynamics stock traded down $0.48 on Friday, hitting $15.81. The company's stock had a trading volume of 538,078 shares, compared to its average volume of 584,508. The company has a fifty day moving average price of $19.95 and a 200-day moving average price of $18.35. The firm has a market cap of $1.33 billion, a P/E ratio of 395.25 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted 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). The firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.