Ameriprise Financial Inc. Acquires 138,529 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ameriprise Financial Inc. increased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 303.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,130 shares of the company's stock after buying an additional 138,529 shares during the period. Ameriprise Financial Inc. owned about 0.22% of Grid Dynamics worth $4,095,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GDYN. Vanguard Group Inc. lifted its position in shares of Grid Dynamics by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Grid Dynamics in the 4th quarter worth $55,114,000. Dimensional Fund Advisors LP grew its stake in shares of Grid Dynamics by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after acquiring an additional 17,881 shares in the last quarter. Next Century Growth Investors LLC boosted its holdings in shares of Grid Dynamics by 78.1% in the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after buying an additional 711,150 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Grid Dynamics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock worth $31,895,000 after buying an additional 52,344 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Up 0.3%

Shares of NASDAQ:GDYN traded up $0.04 during trading on Thursday, reaching $12.67. 268,486 shares of the company traded hands, compared to its average volume of 634,728. The business's fifty day moving average is $14.09 and its 200-day moving average is $17.97. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 317.08 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 the consensus estimate of $0.09 by $0.02. The business had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC boosted their price target on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Grid Dynamics currently has an average rating of "Buy" and a consensus target price of $18.75.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the transaction, the chief operating officer now 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 Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 19,043 shares of company stock valued at $327,338 in the last quarter. 7.20% of the stock is owned by insiders.

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.