46,300 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,300 shares of the company's stock, valued at approximately $1,030,000. Kornitzer Capital Management Inc. KS owned 0.06% of Grid Dynamics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GDYN. FMR LLC increased its position in Grid Dynamics by 38.7% in the 3rd 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. MCF Advisors LLC increased its position in shares of Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after buying an additional 740 shares during the period. Quarry LP increased its position in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company's stock worth $73,000 after buying an additional 2,974 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the third quarter worth $122,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Grid Dynamics during the third quarter worth $153,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. TD Cowen increased their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Needham & Company LLC increased their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $19.17.

Grid Dynamics Trading Up 4.3 %

NASDAQ GDYN traded up $0.89 on Friday, hitting $21.37. 2,655,625 shares of the company were exchanged, compared to its average volume of 688,999. The company has a market cap of $1.76 billion, a PE ratio of 534.25 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a fifty day moving average of $21.64 and a 200-day moving average of $17.65.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its 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 company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 8,000 shares of company stock valued at $171,780. Corporate insiders own 7.20% of the company's stock.

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.