Rhumbline Advisers raised its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 98.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,262 shares of the company's stock after purchasing an additional 80,054 shares during the period. Rhumbline Advisers owned about 0.20% of Grid Dynamics worth $3,586,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after acquiring an additional 675,419 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Grid Dynamics in the third quarter worth approximately $8,589,000. Rice Hall James & Associates LLC acquired a new stake in shares of Grid Dynamics in the third quarter worth approximately $1,751,000. Barclays PLC boosted its stake in shares of Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company's stock worth $1,556,000 after acquiring an additional 70,579 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Grid Dynamics by 5.9% in the third quarter. Royce & Associates LP now owns 802,101 shares of the company's stock worth $11,229,000 after acquiring an additional 44,720 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $171,780. Insiders own 7.20% of the company's stock.
Grid Dynamics Trading Down 1.2 %
NASDAQ GDYN traded down $0.23 on Monday, reaching $18.59. 1,024,705 shares of the company were exchanged, compared to its average volume of 803,826. The business's fifty day moving average price is $21.57 and its 200 day moving average price is $17.94. The stock has a market capitalization of $1.53 billion, a P/E ratio of 464.75 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The company 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%. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
Separately, Needham & Company LLC lifted their price target 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $19.17.
Check Out Our Latest Report on Grid Dynamics
About Grid Dynamics
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Free Report)
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.
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