Ensign Peak Advisors Inc Makes New Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ensign Peak Advisors Inc acquired a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 906,583 shares of the company's stock, valued at approximately $20,162,000. Ensign Peak Advisors Inc owned 1.10% of Grid Dynamics at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new stake in Grid Dynamics in the fourth quarter worth approximately $19,458,000. Cetera Investment Advisers acquired a new stake in Grid Dynamics in the fourth quarter worth approximately $200,000. Baird Financial Group Inc. lifted its position in Grid Dynamics by 8.1% in the fourth quarter. Baird Financial Group Inc. now owns 88,539 shares of the company's stock worth $1,969,000 after purchasing an additional 6,631 shares during the period. BNP Paribas Financial Markets acquired a new stake in Grid Dynamics in the fourth quarter worth approximately $353,000. Finally, Ameriprise Financial Inc. lifted its position in Grid Dynamics by 303.8% in the fourth quarter. Ameriprise Financial Inc. now owns 184,130 shares of the company's stock worth $4,095,000 after purchasing an additional 138,529 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Grid Dynamics

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

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.39 on Friday, reaching $13.97. 829,938 shares of the company traded hands, compared to its average volume of 631,394. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The company's 50 day moving average is $14.65 and its 200-day moving average is $18.16. The stock has a market capitalization of $1.17 billion, a PE ratio of 349.25 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $98.19 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the stock 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 data from 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.