Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Position Lessened by Deutsche Bank AG

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

A number of other institutional investors also recently made changes to their positions in GDYN. Loomis Sayles & Co. L P acquired a new position in Grid Dynamics in the fourth quarter valued at $55,114,000. Vanguard Group Inc. increased its stake in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Grid Dynamics in the fourth quarter valued at $22,192,000. Driehaus Capital Management LLC acquired a new position in Grid Dynamics in the fourth quarter valued at $19,458,000. Finally, Next Century Growth Investors LLC increased its stake in Grid Dynamics by 78.1% in the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock valued at $36,078,000 after purchasing an additional 711,150 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their price objective on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.60.

Grid Dynamics Stock Down 1.7%

Shares of NASDAQ GDYN traded down $0.24 on Tuesday, hitting $13.83. The company had a trading volume of 414,586 shares, compared to its average volume of 629,765. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The business has a 50 day moving average of $14.59 and a two-hundred day moving average of $18.17. The firm has a market capitalization of $1.17 billion, a P/E ratio of 345.75 and a beta of 1.13.

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

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the 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 completion of the transaction, the chief operating officer now owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the transaction, the chief financial officer now directly owns 366,818 shares of the company's stock, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,043 shares of company stock valued at $327,338 over the last quarter. Company insiders own 7.20% of the company's stock.

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.