GAMMA Investing LLC Acquires 24,183 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

GAMMA Investing LLC lifted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 10,468.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,414 shares of the company's stock after purchasing an additional 24,183 shares during the period. GAMMA Investing LLC's holdings in Grid Dynamics were worth $3,820,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State of Wyoming lifted its holdings in Grid Dynamics by 4.1% during the 4th quarter. State of Wyoming now owns 26,495 shares of the company's stock valued at $589,000 after purchasing an additional 1,046 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics during the fourth quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Grid Dynamics by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock valued at $722,000 after purchasing an additional 1,106 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $27,000. Finally, Arizona State Retirement System grew its position in shares of Grid Dynamics by 7.6% in the fourth quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock valued at $396,000 after purchasing an additional 1,260 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDYN has been the subject of several recent research reports. Needham & Company LLC boosted their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.75.

Grid Dynamics Trading Down 4.9%

NASDAQ GDYN traded down $0.59 on Friday, hitting $11.48. 601,276 shares of the company's stock were exchanged, compared to its average volume of 652,506. Grid Dynamics Holdings, Inc. has a 52 week low of $9.11 and a 52 week high of $25.50. The stock has a 50-day moving average of $13.34 and a 200-day moving average of $17.50. The stock has a market cap of $970.61 million, a price-to-earnings ratio of 287.00 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping 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 analysts' expectations of $98.19 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Grid Dynamics's revenue was up 25.8% on a year-over-year basis. As a group, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company's 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. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,737 shares of company stock valued at $65,288 in the last 90 days. Corporate insiders own 7.20% of the company's stock.

About Grid Dynamics

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.