Deutsche Bank AG Sells 39,946 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Deutsche Bank AG decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,087 shares of the company's stock after selling 39,946 shares during the period. Deutsche Bank AG owned 0.50% of Grid Dynamics worth $9,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Driehaus Capital Management LLC bought a new stake in shares of Grid Dynamics during the fourth quarter valued at approximately $19,458,000. Cetera Investment Advisers bought a new stake in shares of Grid Dynamics during the 4th quarter valued at $200,000. Baird Financial Group Inc. grew its position in shares of Grid Dynamics by 8.1% in the 4th quarter. Baird Financial Group Inc. now owns 88,539 shares of the company's stock worth $1,969,000 after buying an additional 6,631 shares during the period. BNP Paribas Financial Markets purchased a new position in Grid Dynamics during the 4th quarter valued at about $353,000. Finally, Ameriprise Financial Inc. boosted its stake in Grid Dynamics by 303.8% during the fourth quarter. Ameriprise Financial Inc. now owns 184,130 shares of the company's stock worth $4,095,000 after acquiring an additional 138,529 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Grid Dynamics Price Performance

Grid Dynamics stock traded up $0.15 during mid-day trading on Thursday, reaching $13.42. The stock had a trading volume of 156,641 shares, compared to its average volume of 630,238. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 334.25 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The company has a 50-day moving average price of $14.47 and a two-hundred day moving average price of $18.11.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.42 million for the quarter, compared to analysts' expectations of $98.19 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the sale, the chief financial officer now directly owns 366,818 shares in the company, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were 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 $9,008,282.94. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note 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 data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $17.60.

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.