Loomis Sayles & Co. L P Makes New $55.11 Million Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Loomis Sayles & Co. L P purchased a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,478,115 shares of the company's stock, valued at approximately $55,114,000. Loomis Sayles & Co. L P owned approximately 3.00% of Grid Dynamics at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GDYN. Global Retirement Partners LLC acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at $27,000. FMR LLC boosted its position in 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 buying an additional 801 shares in the last quarter. MCF Advisors LLC increased its holdings 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 in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Grid Dynamics by 68.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock valued at $71,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the 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 transaction, the chief financial officer now directly owns 341,012 shares in the company, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction on 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 owns 482,759 shares of the company's stock, valued at $9,008,282.94. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock worth $376,590 over the last three months. 7.20% of the stock is owned by company insiders.

Remove Ads

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.27 on Monday, reaching $15.55. The company had a trading volume of 175,204 shares, compared to its average volume of 582,950. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 388.25 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The business has a 50 day moving average of $19.95 and a two-hundred day moving average of $18.38.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.