Vontobel Holding Ltd. Acquires 62,910 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Vontobel Holding Ltd. raised its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 477.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,086 shares of the company's stock after buying an additional 62,910 shares during the quarter. Vontobel Holding Ltd. owned about 0.09% of Grid Dynamics worth $1,191,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GDYN. Bank of New York Mellon Corp lifted its holdings in shares of Grid Dynamics by 95.5% during the fourth quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock worth $8,500,000 after buying an additional 186,661 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $796,000. Charles Schwab Investment Management Inc. raised its stake in shares of Grid Dynamics by 8.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company's stock valued at $11,244,000 after purchasing an additional 41,390 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $208,000. 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 valued at $396,000 after purchasing an additional 1,260 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Down 0.6%

NASDAQ:GDYN traded down $0.08 during trading hours on Tuesday, reaching $12.24. The company had a trading volume of 785,367 shares, compared to its average volume of 674,280. The stock has a 50-day moving average of $12.72 and a two-hundred day moving average of $16.62. Grid Dynamics Holdings, Inc. has a one year low of $10.15 and a one year high of $25.50. The firm has a market capitalization of $1.03 billion, a PE ratio of 102.01 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $98.19 million. During the same period in the prior year, the business posted $0.10 earnings per share. The business's revenue was up 25.8% compared to the same quarter last year. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GDYN shares. Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One research 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 stock. Based on data from MarketBeat.com, Grid Dynamics has an average rating of "Buy" and a consensus target price of $18.75.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the sale, the chief operating officer owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 4,737 shares of company stock worth $59,591 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

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.