Intech Investment Management LLC Raises Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Intech Investment Management LLC increased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 161.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,669 shares of the company's stock after buying an additional 17,718 shares during the period. Intech Investment Management LLC's holdings in Grid Dynamics were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new position in shares of Grid Dynamics in the 4th quarter valued at $1,061,000. William Blair Investment Management LLC purchased a new position in Grid Dynamics in the fourth quarter valued at about $22,192,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Grid Dynamics by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after purchasing an additional 1,282 shares in the last quarter. Swiss National Bank raised its holdings in Grid Dynamics by 7.8% in the fourth quarter. Swiss National Bank now owns 120,600 shares of the company's stock worth $2,682,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Grid Dynamics during the fourth quarter valued at about $3,933,000. Hedge funds and other institutional investors own 71.18% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note 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 price target of $19.60.

Remove Ads

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total transaction of $33,540.00. Following the sale, the chief operating officer now owns 480,759 shares of the company's stock, valued at approximately $8,062,328.43. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock worth $376,590 in the last 90 days. Insiders own 7.20% of the company's stock.

Grid Dynamics Trading Down 2.2 %

Shares of GDYN stock traded down $0.37 during trading hours on Thursday, reaching $16.29. 421,429 shares of the company's stock were exchanged, compared to its average volume of 566,775. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The stock has a market cap of $1.37 billion, a PE ratio of 407.25 and a beta of 1.10. The stock's fifty day moving average price is $20.14 and its two-hundred day moving average price is $18.33.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. On average, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.