SG Americas Securities LLC Purchases 46,475 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

SG Americas Securities LLC grew its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 426.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,363 shares of the company's stock after purchasing an additional 46,475 shares during the period. SG Americas Securities LLC owned about 0.07% of Grid Dynamics worth $898,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Coppell Advisory Solutions LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter worth $25,000. Global Retirement Partners LLC acquired a new stake in Grid Dynamics in the 4th quarter valued at approximately $27,000. Johnson Financial Group Inc. acquired a new stake in Grid Dynamics in the 4th quarter valued at approximately $70,000. Skandinaviska Enskilda Banken AB publ increased its position 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 worth $71,000 after buying an additional 1,282 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of Grid Dynamics during the fourth quarter worth approximately $200,000. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GDYN. Wall Street Zen downgraded shares of Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC lifted their target price on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $18.75.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of the firm's stock in a transaction on 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 directly owns 474,269 shares in the company, valued at $6,269,836.18. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,737 shares of company stock worth $65,288 over the last ninety days. Company insiders own 7.20% of the company's stock.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded down $0.17 on Friday, hitting $11.51. The stock had a trading volume of 1,356,673 shares, compared to its average volume of 658,279. The firm's 50 day moving average price is $13.10 and its 200-day moving average price is $17.25. Grid Dynamics Holdings, Inc. has a twelve month low of $9.94 and a twelve month high of $25.50. The company has a market capitalization of $973.17 million, a price-to-earnings ratio of 95.92 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The firm had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same period last year, the firm posted $0.10 EPS. The business's revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.