Proficio Capital Partners LLC Takes $796,000 Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Proficio Capital Partners LLC bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 35,784 shares of the company's stock, valued at approximately $796,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDYN. MCF Advisors LLC lifted 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 during the last quarter. FMR LLC grew its position in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after buying an additional 801 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Grid Dynamics by 10.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company's stock valued at $242,000 after acquiring an additional 1,036 shares during the period. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the 4th quarter valued at approximately $27,000. Finally, Trust Point Inc. lifted its position in shares of Grid Dynamics by 7.9% in the 4th quarter. Trust Point Inc. now owns 34,832 shares of the company's stock worth $775,000 after acquiring an additional 2,542 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Stock Performance

Shares of GDYN stock traded down $0.62 during trading hours on Wednesday, hitting $16.73. The company had a trading volume of 480,582 shares, compared to its average volume of 547,785. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The firm's fifty day moving average is $21.16 and its 200 day moving average is $18.13. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 420.73 and a beta of 1.10.

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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 analysts' consensus estimates of $0.10 by ($0.06). The firm had revenue of $100.28 million for 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%. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

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 research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $19.17.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction 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 owns 341,012 shares of the company's stock, 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 can be accessed through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the company's stock in a transaction 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 transaction, the chief operating officer now directly owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,306 shares of company stock worth $343,050. Insiders own 7.20% of the company's stock.

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.