William Blair Investment Management LLC Takes $22.19 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

William Blair Investment Management LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 997,825 shares of the company's stock, valued at approximately $22,192,000. William Blair Investment Management LLC owned approximately 1.21% of Grid Dynamics at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Grid Dynamics by 30.9% in 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. Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $8,589,000. Principal Financial Group Inc. lifted its stake in shares of Grid Dynamics by 1,540.0% in the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock valued at $7,041,000 after purchasing an additional 297,296 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Grid Dynamics in the 4th quarter valued at approximately $4,406,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Grid Dynamics by 95.5% in 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 purchasing an additional 186,661 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 21st. Five 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 company currently has an average rating of "Buy" and a consensus target price of $19.60.

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Grid Dynamics Stock Performance

GDYN stock traded down $0.09 on Friday, hitting $16.26. 2,414,448 shares of the company's stock were exchanged, compared to its average volume of 566,260. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The firm has a 50 day moving average price of $20.38 and a two-hundred day moving average price of $18.23. The stock has a market cap of $1.36 billion, a P/E ratio of 406.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its 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 business had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. Sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,306 shares of company stock valued at $376,590. 7.20% of the stock is owned by company insiders.

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.