198,102 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 198,102 shares of the company's stock, valued at approximately $4,406,000. Raymond James Financial Inc. owned approximately 0.24% of Grid Dynamics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GDYN. Wellington Management Group LLP raised its holdings in shares of Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock valued at $40,037,000 after purchasing an additional 675,419 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Grid Dynamics during the third quarter valued at about $8,589,000. Principal Financial Group Inc. boosted its stake in shares of Grid Dynamics by 1,540.0% during the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock worth $7,041,000 after acquiring an additional 297,296 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock valued at $8,500,000 after acquiring an additional 186,661 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Grid Dynamics by 89.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 347,944 shares of the company's stock valued at $7,738,000 after acquiring an additional 164,206 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Grid Dynamics Price Performance

Shares of NASDAQ GDYN traded down $0.48 during trading hours on Friday, hitting $15.81. 538,078 shares of the company's stock were exchanged, compared to its average volume of 584,508. The company's 50-day moving average price is $19.95 and its 200-day moving average price is $18.38. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 395.25 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $25.00 to $30.00 and gave the stock 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 MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $19.60.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their position. The sale 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 Grid Dynamics stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is currently owned by company insiders.

About Grid Dynamics

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.