Nuveen Asset Management LLC Decreases Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Nuveen Asset Management LLC lowered its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,282,201 shares of the company's stock after selling 363,494 shares during the period. Nuveen Asset Management LLC owned 1.55% of Grid Dynamics worth $28,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MCF Advisors LLC raised its holdings in shares of Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after buying an additional 740 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Grid Dynamics in the fourth quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $722,000 after purchasing an additional 1,106 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics in the fourth quarter worth about $27,000. Finally, Arizona State Retirement System raised its stake 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 worth $396,000 after purchasing an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Grid Dynamics Stock Performance

Shares of GDYN opened at $13.27 on Thursday. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 331.75 and a beta of 1.13. The stock has a 50 day moving average price of $14.47 and a 200 day moving average price of $18.11.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same quarter in the prior year, the company earned $0.10 EPS. Grid Dynamics's revenue was up 25.8% compared to the same quarter last year. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 10,306 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,043 shares of company stock valued at $327,338. Corporate insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their price objective on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $17.60.

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.

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