Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 1,053.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 537,811 shares of the company's stock after purchasing an additional 491,171 shares during the quarter. Invesco Ltd. owned 0.65% of Grid Dynamics worth $11,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Loomis Sayles & Co. L P purchased a new stake in shares of Grid Dynamics in the fourth quarter worth approximately $55,114,000. Vanguard Group Inc. grew its position in Grid Dynamics by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after acquiring an additional 1,171,481 shares during the last quarter. William Blair Investment Management LLC bought a new position in Grid Dynamics in the 4th quarter valued at $22,192,000. Lord Abbett & CO. LLC purchased a new stake in Grid Dynamics in the third quarter worth $8,589,000. Finally, American Century Companies Inc. lifted its position in shares of Grid Dynamics by 824.9% during the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock worth $13,821,000 after purchasing an additional 554,275 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Insider Activity

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now directly owns 482,759 shares of the company's stock, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the transaction, the chief financial officer now directly owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,043 shares of company stock worth $349,078. 7.20% of the stock is currently owned by company insiders.

Grid Dynamics Trading Up 4.7 %

Shares of GDYN traded up $0.62 during midday trading on Wednesday, reaching $13.70. 708,407 shares of the stock were exchanged, compared to its average volume of 610,072. The company has a market capitalization of $1.15 billion, a P/E ratio of 342.50 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50. The company's 50 day moving average is $16.53 and its two-hundred day moving average is $18.29.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC raised their price target 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $19.60.

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.