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

Focus Partners Wealth bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,036,542 shares of the company's stock, valued at approximately $23,053,000. Focus Partners Wealth owned 1.26% of Grid Dynamics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in shares of Grid Dynamics in the 4th quarter worth approximately $55,114,000. Vanguard Group Inc. boosted its holdings in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after acquiring an additional 1,171,481 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Grid Dynamics in the fourth quarter worth $22,192,000. Ensign Peak Advisors Inc bought a new position in shares of Grid Dynamics during the fourth quarter valued at $20,162,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Grid Dynamics in the 4th quarter worth about $19,458,000. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Up 0.9%

GDYN traded up $0.13 during midday trading on Thursday, hitting $14.36. 542,569 shares of the company traded hands, compared to its average volume of 626,244. The company's 50-day moving average is $14.76 and its 200 day moving average is $18.18. The firm has a market capitalization of $1.20 billion, a PE ratio of 359.00 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50.

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

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their price objective 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $17.60.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $18.10, for a total transaction of $36,200.00. Following the sale, the chief financial officer now directly owns 366,818 shares in the company, valued at $6,639,405.80. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now directly owns 482,759 shares of the company's stock, valued at $9,008,282.94. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock worth $327,338 in the last 90 days. 7.20% of the stock is currently owned by insiders.

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.