Integrated Quantitative Investments LLC Invests $440,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Integrated Quantitative Investments LLC purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,781 shares of the company's stock, valued at approximately $440,000.

Several other hedge funds have also recently bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of Grid Dynamics during the third quarter worth approximately $153,000. Charles Schwab Investment Management Inc. increased its position in Grid Dynamics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company's stock worth $6,499,000 after buying an additional 13,785 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the third quarter worth $122,000. FMR LLC boosted its position in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after acquiring an additional 801 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Grid Dynamics in the third quarter valued at about $207,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Down 7.3 %

Grid Dynamics stock traded down $1.08 during trading hours on Thursday, reaching $13.67. 161,155 shares of the stock were exchanged, compared to its average volume of 788,342. The stock has a 50 day moving average of $18.51 and a two-hundred day moving average of $18.37. The company has a market cap of $1.15 billion, a P/E ratio of 341.85 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 net margin of 1.15% and a negative return on equity of 0.33%. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 21st. Five equities research 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 stock presently has an average rating of "Buy" and an average price target of $19.60.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $13.97, for a total value of $27,940.00. Following the completion of the transaction, the chief operating officer now owns 476,269 shares of the company's stock, valued at $6,653,477.93. This represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 19,043 shares of company stock valued at $349,078. 7.20% of the stock is currently owned by corporate insiders.

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.