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

Driehaus Capital Management LLC bought a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 874,902 shares of the company's stock, valued at approximately $19,458,000. Driehaus Capital Management LLC owned about 1.06% of Grid Dynamics at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Grid Dynamics by 824.9% during the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock valued at $13,821,000 after buying an additional 554,275 shares during the period. SG Americas Securities LLC bought a new stake in shares of Grid Dynamics during the 4th quarter worth approximately $242,000. Barclays PLC boosted its holdings in Grid Dynamics by 173.8% during the 3rd quarter. Barclays PLC now owns 111,182 shares of the company's stock valued at $1,556,000 after acquiring an additional 70,579 shares during the period. Envestnet Asset Management Inc. grew its position in Grid Dynamics by 15.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company's stock valued at $4,734,000 after acquiring an additional 28,505 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Grid Dynamics by 1,540.0% in the fourth quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock worth $7,041,000 after purchasing an additional 297,296 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Performance

NASDAQ GDYN traded down $0.88 on Wednesday, reaching $14.15. 277,037 shares of the stock traded hands, compared to its average volume of 623,661. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 353.75 and a beta of 1.13. The company has a fifty day moving average price of $14.85 and a 200-day moving average price of $18.20.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share 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 firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares of the company's stock, valued at $9,008,282.94. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the transaction, the chief financial officer now owns 366,818 shares of the company's stock, valued at $6,639,405.80. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.60.

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.