Two Sigma Investments LP Purchases Shares of 54,831 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Two Sigma Investments LP bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 54,831 shares of the company's stock, valued at approximately $1,219,000. Two Sigma Investments LP owned about 0.07% of Grid Dynamics at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GDYN. American Century Companies Inc. lifted its holdings in Grid Dynamics by 824.9% in the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock valued at $13,821,000 after acquiring an additional 554,275 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Grid Dynamics in the fourth quarter valued at $242,000. Envestnet Asset Management Inc. grew its holdings in shares of Grid Dynamics by 15.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company's stock worth $4,734,000 after purchasing an additional 28,505 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Grid Dynamics by 1,540.0% during the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock worth $7,041,000 after purchasing an additional 297,296 shares during the period. Finally, Northern Trust Corp increased its position in shares of Grid Dynamics by 14.2% during the 4th quarter. Northern Trust Corp now owns 851,727 shares of the company's stock worth $18,942,000 after purchasing an additional 106,193 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GDYN shares. Needham & Company LLC upped their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $18.75.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total transaction of $26,440.00. Following the sale, the chief operating officer now directly owns 474,269 shares in the company, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 6,737 shares of company stock worth $98,828. Company insiders own 7.20% of the company's stock.

Grid Dynamics Stock Up 1.7%

NASDAQ:GDYN traded up $0.20 on Friday, reaching $12.15. 939,288 shares of the company's stock were exchanged, compared to its average volume of 647,588. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 303.75 and a beta of 1.07. The business has a fifty day moving average of $13.54 and a 200-day moving average of $17.73. Grid Dynamics Holdings, Inc. has a 52-week low of $9.11 and a 52-week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 1.15% and a negative return on equity of 0.33%. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current 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.