Ameriprise Financial Inc. Has $4.10 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ameriprise Financial Inc. boosted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 303.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,130 shares of the company's stock after acquiring an additional 138,529 shares during the quarter. Ameriprise Financial Inc. owned about 0.22% of Grid Dynamics worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings 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 worth $13,821,000 after purchasing an additional 554,275 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics in the fourth quarter valued at about $242,000. Envestnet Asset Management Inc. increased its stake in shares of Grid Dynamics by 15.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company's stock worth $4,734,000 after acquiring an additional 28,505 shares during the period. Principal Financial Group Inc. raised its holdings in Grid Dynamics by 1,540.0% during 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in Grid Dynamics by 14.2% during the fourth quarter. Northern Trust Corp now owns 851,727 shares of the company's stock worth $18,942,000 after purchasing an additional 106,193 shares in the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

GDYN traded down $0.01 on Friday, reaching $12.70. The company's stock had a trading volume of 57,518 shares, compared to its average volume of 635,817. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The business's 50 day moving average is $14.01 and its 200 day moving average is $17.92. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 316.63 and a beta of 1.13.

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 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 analyst estimates of $98.19 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business's revenue was up 25.8% compared to the same quarter last year. As a group, research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC increased their target price on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $18.75.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the transaction, the chief financial officer now directly owns 366,818 shares in the company, valued at $6,639,405.80. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 $9,008,282.94. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.