Proficio Capital Partners LLC Purchases New Holdings 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 fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,784 shares of the company's stock, valued at approximately $796,000.

Other institutional investors also recently bought and sold shares of the company. Atria Investments Inc acquired a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $208,000. Cornerstone Investment Partners LLC purchased a new position in Grid Dynamics in the 4th quarter valued at approximately $252,000. Charles Schwab Investment Management Inc. grew its stake in shares of Grid Dynamics by 8.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company's stock worth $11,244,000 after acquiring an additional 41,390 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Grid Dynamics by 89.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 347,944 shares of the company's stock worth $7,738,000 after acquiring an additional 164,206 shares during the period. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at $322,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction 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. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares of the company's stock, valued at $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock valued at $376,590 over the last ninety days. Insiders own 7.20% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Needham & Company LLC boosted their target price on Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. 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 data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $19.60.

Grid Dynamics Trading Down 0.1 %

Shares of GDYN stock traded down $0.02 on Wednesday, reaching $16.66. 507,035 shares of the stock were exchanged, compared to its average volume of 567,445. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 416.50 and a beta of 1.10. The business's 50 day moving average price is $20.23 and its 200 day moving average price is $18.34.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The business had revenue of $100.28 million during the quarter, compared to analysts' expectations of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.