Occudo Quantitative Strategies LP acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,469 shares of the company's stock, valued at approximately $522,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MCF Advisors LLC lifted its holdings in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after buying an additional 740 shares during the period. Harbor Capital Advisors Inc. increased its position in Grid Dynamics by 10.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company's stock valued at $242,000 after acquiring an additional 1,036 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Grid Dynamics in the fourth quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Grid Dynamics by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock worth $722,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Grid Dynamics during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 71.18% of the company's stock.
Insiders Place Their Bets
In other news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the sale, the chief operating officer now directly owns 474,269 shares of the company's stock, valued at $6,269,836.18. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 19,043 shares of company stock worth $327,338. Company insiders own 7.20% of the company's stock.
Grid Dynamics Trading Down 2.7%
Grid Dynamics stock traded down $0.39 during trading on Friday, reaching $13.97. The company had a trading volume of 829,938 shares, compared to its average volume of 631,394. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 349.25 and a beta of 1.13. The firm's 50-day simple moving average is $14.65 and its 200 day simple moving average is $18.16. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $100.42 million for the quarter, compared to the consensus estimate of $98.19 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.
Analyst Ratings Changes
Separately, Needham & Company LLC increased their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $17.60.
Check Out Our Latest Stock Report on Grid Dynamics
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.
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