Legal & General Group Plc boosted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 84.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,493 shares of the company's stock after acquiring an additional 63,055 shares during the period. Legal & General Group Plc owned about 0.17% of Grid Dynamics worth $3,058,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after buying an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Grid Dynamics during the fourth quarter worth about $55,114,000. Geode Capital Management LLC increased its stake in Grid Dynamics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after buying an additional 52,344 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Grid Dynamics during the 4th quarter worth approximately $22,192,000. Finally, American Century Companies Inc. lifted its holdings in Grid Dynamics by 824.9% in the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock valued at $13,821,000 after acquiring an additional 554,275 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC upped their target price on 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 given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $19.60.
Check Out Our Latest Analysis on Grid Dynamics
Grid Dynamics Stock Performance
NASDAQ GDYN traded down $0.05 during trading hours on Friday, hitting $13.96. 278,941 shares of the company's stock were exchanged, compared to its average volume of 612,216. The firm has a market capitalization of $1.17 billion, a P/E ratio of 349.00 and a beta of 0.99. The business's 50 day moving average is $16.20 and its 200-day moving average is $18.31. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data 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 during 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 anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.
Insider Activity at Grid Dynamics
In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was 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 $8,214,979.08. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,043 shares of company stock valued at $349,078 over the last three months. 7.20% of the stock is owned by insiders.
About Grid Dynamics
(
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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