GAMMA Investing LLC Grows Stock Holdings in 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 and hedge funds also recently modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new position in Grid Dynamics during the fourth quarter worth approximately $25,000. Global Retirement Partners LLC bought a new stake in shares of Grid Dynamics during the 4th quarter worth about $27,000. Johnson Financial Group Inc. bought a new position in Grid Dynamics in the 4th quarter valued at about $70,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Grid Dynamics by 68.4% in the 4th 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 during the period. Finally, Cetera Investment Advisers acquired a new stake in Grid Dynamics during the fourth quarter worth approximately $200,000. 71.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GDYN. 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 lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $18.75.

Grid Dynamics Price Performance

GDYN traded down $0.19 on Thursday, hitting $12.07. 591,654 shares of the stock were exchanged, compared to its average volume of 649,223. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 301.75 and a beta of 1.07. Grid Dynamics Holdings, Inc. has a 12 month low of $9.11 and a 12 month high of $25.50. The business has a 50-day moving average of $13.41 and a two-hundred day moving average of $17.61.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same quarter last year, the business posted $0.10 EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $13.97, for a total transaction of $27,940.00. Following the sale, the chief operating officer now directly owns 476,269 shares in the company, valued at approximately $6,653,477.93. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 4,737 shares of company stock worth $65,288. Corporate 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.