Summit Creek Advisors LLC Has $21.91 Million Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Summit Creek Advisors LLC lessened its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 985,258 shares of the company's stock after selling 190,577 shares during the period. Grid Dynamics makes up approximately 2.9% of Summit Creek Advisors LLC's holdings, making the stock its 11th largest position. Summit Creek Advisors LLC owned 1.19% of Grid Dynamics worth $21,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after buying an additional 1,171,481 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 during the last quarter. State Street Corp boosted its holdings in Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company's stock valued at $20,246,000 after purchasing an additional 6,938 shares during the period. Geode Capital Management LLC grew its position in Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock worth $19,344,000 after purchasing an additional 17,763 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Grid Dynamics during the 4th quarter worth about $22,192,000. Institutional investors and hedge funds own 71.18% of the company's stock.

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Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the firm'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 completion of the sale, the chief financial officer now directly owns 343,012 shares of the company's stock, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the transaction, the chief operating officer now directly owns 480,759 shares in the company, valued at approximately $8,062,328.43. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,306 shares of company stock valued at $376,590. Corporate insiders own 7.20% of the company's stock.

Grid Dynamics Stock Down 2.9 %

Grid Dynamics stock traded down $0.48 on Friday, hitting $15.81. The company's stock had a trading volume of 538,078 shares, compared to its average volume of 584,508. The company has a fifty day moving average price of $19.95 and a 200-day moving average price of $18.32. The firm has a market cap of $1.33 billion, a P/E ratio of 395.25 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results 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 business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted 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 equities research 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 currently has a consensus rating of "Buy" and a consensus target price of $19.60.

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.