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

Driehaus Capital Management LLC acquired 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 Securities and Exchange Commission (SEC). The firm acquired 874,902 shares of the company's stock, valued at approximately $19,458,000. Driehaus Capital Management LLC owned 1.06% of Grid Dynamics at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in shares of Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after acquiring an additional 740 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $70,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Grid Dynamics by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock valued at $71,000 after acquiring an additional 1,282 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Grid Dynamics

In related news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the transaction, the chief operating officer now directly owns 474,269 shares of the company's stock, valued at $6,269,836.18. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 19,043 shares of company stock worth $327,338 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $17.60.

Grid Dynamics Price Performance

Grid Dynamics stock traded up $1.28 during trading on Monday, reaching $15.23. 1,145,974 shares of the company were exchanged, compared to its average volume of 622,284. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The company has a market capitalization of $1.28 billion, a P/E ratio of 380.75 and a beta of 1.13. The stock's 50 day simple moving average is $14.98 and its two-hundred day simple moving average is $18.23.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $98.19 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.