Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 426.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,363 shares of the company's stock after acquiring an additional 46,475 shares during the period. SG Americas Securities LLC owned approximately 0.07% of Grid Dynamics worth $898,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GDYN. Loomis Sayles & Co. L P purchased a new position in Grid Dynamics in the fourth quarter valued at $55,114,000. Vanguard Group Inc. increased its holdings in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after buying an additional 1,171,481 shares during the last quarter. Focus Partners Wealth purchased a new position in Grid Dynamics in the fourth quarter valued at $23,053,000. William Blair Investment Management LLC purchased a new position in Grid Dynamics in the fourth quarter valued at $22,192,000. Finally, Ensign Peak Advisors Inc purchased a new position in Grid Dynamics in the fourth quarter valued at $20,162,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on GDYN shares. Needham & Company LLC increased their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and an average target price of $18.75.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 2,000 shares of the business'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 transaction, the chief operating officer now owns 474,269 shares in the company, valued at $6,269,836.18. The trade was a 0.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 4,737 shares of company stock valued at $65,288. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Stock Performance

Shares of GDYN stock traded down $0.17 during mid-day trading on Friday, hitting $11.51. 1,356,673 shares of the stock were exchanged, compared to its average volume of 658,335. The stock's fifty day simple moving average is $13.14 and its two-hundred day simple moving average is $17.31. The stock has a market capitalization of $973.17 million, a price-to-earnings ratio of 194.67 and a beta of 1.07. Grid Dynamics Holdings, Inc. has a 12-month low of $9.76 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The business's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.