SG Americas Securities LLC acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,888 shares of the company's stock, valued at approximately $242,000.
Other hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new position in shares of Grid Dynamics in the third quarter worth about $8,589,000. Vontobel Holding Ltd. purchased a new position in shares of Grid Dynamics during the 3rd quarter valued at approximately $1,143,000. Barclays PLC grew its position in shares of Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company's stock worth $1,556,000 after buying an additional 70,579 shares in the last quarter. Wellington Management Group LLP increased 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 buying an additional 675,419 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock valued at $19,344,000 after acquiring an additional 17,763 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.
Grid Dynamics Price Performance
GDYN stock traded down $1.10 on Monday, reaching $22.95. The company's stock had a trading volume of 1,035,860 shares, compared to its average volume of 732,272. The firm has a fifty day moving average of $21.00 and a two-hundred day moving average of $17.03. The company has a market capitalization of $1.89 billion, a P/E ratio of 765.26 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $24.60.
Analyst Ratings Changes
Several analysts have issued reports on GDYN shares. Needham & Company LLC upped their price objective on Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. TD Cowen increased their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Citigroup boosted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Grid Dynamics presently has an average rating of "Buy" and a consensus target price of $18.33.
Check Out Our Latest Report on Grid Dynamics
Insider Transactions at Grid Dynamics
In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.20% of the company's stock.
About Grid Dynamics
(
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.
Further Reading
Before you consider Grid Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grid Dynamics wasn't on the list.
While Grid Dynamics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
