54,831 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Purchased by Two Sigma Investments LP

Two Sigma Investments LP acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in Grid Dynamics in the fourth quarter worth about $55,114,000. Vanguard Group Inc. increased its holdings in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after acquiring an additional 1,171,481 shares in the last quarter. Focus Partners Wealth acquired a new position in Grid Dynamics in the 4th quarter worth approximately $23,053,000. William Blair Investment Management LLC acquired a new position in Grid Dynamics in the 4th quarter worth approximately $22,192,000. Finally, Ensign Peak Advisors Inc acquired a new position in Grid Dynamics in the 4th quarter worth approximately $20,162,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on 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 owns 476,269 shares of the company's stock, valued at $6,653,477.93. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 6,737 shares of company stock worth $98,828. 7.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Grid Dynamics Stock Performance

NASDAQ GDYN traded up $0.20 on Friday, reaching $12.15. The stock had a trading volume of 939,288 shares, compared to its average volume of 647,588. Grid Dynamics Holdings, Inc. has a 12-month low of $9.11 and a 12-month high of $25.50. The business's 50-day moving average price is $13.54 and its 200 day moving average price is $17.72. The stock has a market cap of $1.03 billion, a P/E ratio of 303.75 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released 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 firm had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. Grid Dynamics's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Grid Dynamics Company 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.