Focus Partners Wealth Acquires Shares of 1,036,542 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Focus Partners Wealth purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,036,542 shares of the company's stock, valued at approximately $23,053,000. Focus Partners Wealth owned about 1.26% of Grid Dynamics as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after buying an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Grid Dynamics during the 4th quarter worth $55,114,000. Dimensional Fund Advisors LP increased its holdings in shares of Grid Dynamics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after buying an additional 17,881 shares during the last quarter. Next Century Growth Investors LLC increased its holdings in shares of Grid Dynamics by 78.1% during the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after buying an additional 711,150 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock worth $31,895,000 after buying an additional 52,344 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the completion of the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the sale, the chief financial officer now owns 366,818 shares of the company's stock, valued at approximately $6,639,405.80. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,043 shares of company stock worth $327,338. Corporate insiders own 7.20% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their price objective on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Grid Dynamics currently has an average rating of "Buy" and an average target price of $17.60.

Grid Dynamics Stock Performance

Grid Dynamics stock traded down $0.39 during trading on Friday, reaching $13.97. 829,938 shares of the company's stock were exchanged, compared to its average volume of 631,394. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 349.25 and a beta of 1.13. The company's 50-day moving average is $14.65 and its two-hundred day moving average is $18.16.

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 (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.42 million during the quarter, compared to the consensus estimate of $98.19 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS 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.