Fourth Sail Capital LP Raises Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fourth Sail Capital LP raised its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 138.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 769,924 shares of the company's stock after acquiring an additional 446,477 shares during the period. Grid Dynamics makes up 1.9% of Fourth Sail Capital LP's portfolio, making the stock its 17th largest holding. Fourth Sail Capital LP owned approximately 1.01% of Grid Dynamics worth $8,092,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Wasatch Advisors LP boosted its position in shares of Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company's stock valued at $93,585,000 after acquiring an additional 357,785 shares during the last quarter. Vanguard Group Inc. lifted its position in Grid Dynamics by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company's stock valued at $51,643,000 after purchasing an additional 64,300 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company's stock worth $28,748,000 after buying an additional 26,974 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company's stock worth $25,046,000 after buying an additional 396,320 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company's stock valued at $17,581,000 after buying an additional 206,201 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Insider Buying and Selling at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00. Following the transaction, the chief executive officer now owns 3,565,901 shares in the company, valued at $37,014,052.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total transaction of $103,800.00. Following the transaction, the chief executive officer now directly owns 3,565,901 shares in the company, valued at $37,014,052.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares of the company's stock, valued at approximately $177,781,542.40. The disclosure for this sale can be found here. Insiders sold a total of 954,387 shares of company stock valued at $12,176,954 in the last ninety days. Corporate insiders own 7.40% of the company's stock.

Grid Dynamics Stock Performance

GDYN stock traded down $0.11 during midday trading on Tuesday, reaching $13.82. The company's stock had a trading volume of 322,293 shares, compared to its average volume of 337,015. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 464.33 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $14.70. The stock has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $11.60.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million during the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. As a group, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDYN has been the subject of several recent research reports. Needham & Company LLC lifted their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Citigroup cut their target price on Grid Dynamics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, July 12th. Cantor Fitzgerald upgraded Grid Dynamics to a "strong-buy" rating in a research report on Monday, August 12th. TD Cowen upgraded shares of Grid Dynamics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $12.00 to $16.00 in a research report on Friday, August 2nd. Finally, Wedbush restated an "outperform" rating and issued a $13.00 target price on shares of Grid Dynamics in a report on Thursday, May 23rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $15.67.

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.