Occudo Quantitative Strategies LP Takes Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Occudo Quantitative Strategies LP bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 23,469 shares of the company's stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GDYN. Millennium Management LLC bought a new position in Grid Dynamics in the fourth quarter valued at approximately $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Grid Dynamics by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock valued at $722,000 after purchasing an additional 1,106 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Grid Dynamics by 75.4% in the 4th quarter. Janus Henderson Group PLC now owns 28,370 shares of the company's stock valued at $632,000 after purchasing an additional 12,200 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Grid Dynamics during the 4th quarter worth $3,249,000. Finally, Focus Partners Wealth bought a new stake in shares of Grid Dynamics during the 4th quarter worth $23,053,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Performance

Shares of GDYN traded down $0.13 during trading hours on Tuesday, reaching $13.94. The stock had a trading volume of 59,962 shares, compared to its average volume of 628,374. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a market capitalization of $1.18 billion, a PE ratio of 348.50 and a beta of 1.13. The company's 50-day moving average is $14.59 and its two-hundred day moving average is $18.17.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $100.42 million during 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 quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $17.60.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the sale, the chief operating officer now owns 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was a 0.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 19,043 shares of company stock valued at $327,338 in the last ninety days. 7.20% of the stock is currently owned by insiders.

About Grid Dynamics

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.