Yousif Capital Management LLC Buys New Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Yousif Capital Management LLC bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,655 shares of the company's stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock valued at $40,037,000 after acquiring an additional 675,419 shares during the last quarter. State Street Corp raised its position in Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after purchasing an additional 6,938 shares during the period. Geode Capital Management LLC raised 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 period. Royce & Associates LP lifted its stake in 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 purchasing an additional 44,720 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Grid Dynamics during the third quarter valued at approximately $8,589,000. Hedge funds and other institutional investors own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GDYN shares. Citigroup raised their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. TD Cowen boosted their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC raised their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $18.33.

Insider Activity

In other news, CFO Anil Doradla sold 3,000 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $19.08, for a total value of $57,240.00. Following the sale, the chief financial officer now directly owns 373,282 shares in the company, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 8,000 shares of company stock worth $171,780. 7.20% of the stock is currently owned by company insiders.

Grid Dynamics Stock Down 5.1 %

Shares of NASDAQ GDYN traded down $1.09 during midday trading on Thursday, reaching $20.48. 838,353 shares of the company's stock traded hands, compared to its average volume of 717,296. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 682.89 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $24.60. The stock's 50 day simple moving average is $21.58 and its 200-day simple moving average is $17.55.

Grid Dynamics 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.