Sei Investments Co. Purchases 70,192 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Sei Investments Co. grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,277 shares of the company's stock after acquiring an additional 70,192 shares during the quarter. Sei Investments Co. owned 0.54% of Grid Dynamics worth $9,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GDYN. American Century Companies Inc. boosted its holdings in Grid Dynamics by 824.9% during the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock worth $13,821,000 after purchasing an additional 554,275 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Grid Dynamics by 384.2% in the 4th quarter. Quantbot Technologies LP now owns 42,277 shares of the company's stock worth $940,000 after buying an additional 33,546 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Grid Dynamics in the 4th quarter worth approximately $5,012,000. Maryland State Retirement & Pension System bought a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $463,000. Finally, Intech Investment Management LLC increased its position in shares of Grid Dynamics by 161.8% during the fourth quarter. Intech Investment Management LLC now owns 28,669 shares of the company's stock valued at $638,000 after acquiring an additional 17,718 shares during the last quarter. Institutional investors own 71.18% of the company's stock.

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Grid Dynamics Stock Down 9.5 %

Grid Dynamics stock traded down $1.48 during trading on Thursday, hitting $14.15. The stock had a trading volume of 721,079 shares, compared to its average volume of 590,713. The stock's 50 day moving average is $19.47 and its two-hundred day moving average is $18.35. 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 cap of $1.19 billion, a price-to-earnings ratio of 353.75 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction on Friday, February 7th. The stock was 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 directly owns 341,012 shares of the company's stock, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the business'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 sale, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock worth $376,590 over the last quarter. Corporate insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their price objective 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's stock. According to data from MarketBeat, Grid Dynamics presently has an average rating of "Buy" and an average price target of $19.60.

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.