Marshall Wace LLP Raises Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Marshall Wace LLP raised its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 4,387.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 594,184 shares of the company's stock after purchasing an additional 580,944 shares during the quarter. Marshall Wace LLP owned 0.72% of Grid Dynamics worth $13,215,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. MCF Advisors LLC boosted its position in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after purchasing an additional 740 shares during the period. FMR LLC increased its stake 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 purchasing an additional 801 shares during the period. Harbor Capital Advisors Inc. increased its stake in Grid Dynamics by 10.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company's stock valued at $242,000 after buying an additional 1,036 shares during the period. Global Retirement Partners LLC purchased a new position in Grid Dynamics during the fourth quarter worth about $27,000. Finally, Arizona State Retirement System lifted its holdings in shares of Grid Dynamics by 7.6% in the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock valued at $396,000 after buying an additional 1,260 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares of the company's stock, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,043 shares of company stock valued at $349,078 in the last quarter. Company insiders own 7.20% of the company's stock.

Grid Dynamics Stock Up 4.7 %

NASDAQ GDYN traded up $0.62 on Wednesday, hitting $13.70. The stock had a trading volume of 708,407 shares, compared to its average volume of 610,072. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 342.50 and a beta of 0.99. The company's 50-day moving average is $16.53 and its two-hundred day moving average is $18.29. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced 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). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $19.60.

Grid Dynamics Company 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.