Wasatch Advisors LP lessened its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,468,089 shares of the company's stock after selling 1,570,173 shares during the period. Wasatch Advisors LP owned 6.63% of Grid Dynamics worth $121,610,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Grid Dynamics during the 4th quarter worth $27,000. FMR LLC grew its position in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after acquiring an additional 801 shares in the last quarter. MCF Advisors LLC boosted its holdings 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 acquiring an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock valued at $71,000 after purchasing an additional 1,282 shares during the period. Finally, Atria Investments Inc bought a new position in Grid Dynamics during the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 71.18% of the company's stock.
Insiders Place Their Bets
In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was 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 of the company's stock, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock worth $349,078 over the last three months. Company insiders own 7.20% of the company's stock.
Analyst Ratings Changes
Separately, Needham & Company LLC lifted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $19.60.
View Our Latest Research Report on GDYN
Grid Dynamics Price Performance
Shares of GDYN traded down $0.31 during midday trading on Monday, hitting $12.75. The stock had a trading volume of 164,181 shares, compared to its average volume of 604,982. The firm has a market cap of $1.07 billion, a PE ratio of 318.75 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The stock's 50 day moving average is $17.10 and its 200 day moving average is $18.37.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released 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). The firm had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. As a group, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.
Grid Dynamics Profile
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Free Report)
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.
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