41,768 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Acquired by Legato Capital Management LLC

Legato Capital Management LLC bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 41,768 shares of the company's stock, valued at approximately $929,000. Legato Capital Management LLC owned approximately 0.05% of Grid Dynamics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock valued at $40,037,000 after purchasing an additional 675,419 shares in the last quarter. State Street Corp boosted its stake in Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company's stock valued at $20,246,000 after buying an additional 6,938 shares in the last quarter. Geode Capital Management LLC grew its position in Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock valued at $19,344,000 after acquiring an additional 17,763 shares during the period. Royce & Associates LP raised its stake in Grid Dynamics by 5.9% during the third quarter. Royce & Associates LP now owns 802,101 shares of the company's stock worth $11,229,000 after acquiring an additional 44,720 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Grid Dynamics during the third quarter valued at $8,589,000. Institutional investors own 71.18% of the company's stock.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the sale, the chief financial officer now directly owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 8,000 shares of company stock valued at $171,780. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Trading Down 1.4 %

Shares of GDYN traded down $0.32 during mid-day trading on Monday, hitting $22.52. 368,082 shares of the company traded hands, compared to its average volume of 629,039. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 750.92 and a beta of 1.01. The business has a 50-day moving average of $21.50 and a 200 day moving average of $17.46. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $24.60.

Wall Street Analysts Forecast Growth

GDYN has been the subject of a number of recent analyst reports. Citigroup increased their target price 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. Needham & Company LLC lifted their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. TD Cowen increased their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $18.33.

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.