Jefferies Financial Group Inc. Buys New Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Jefferies Financial Group Inc. bought a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 146,100 shares of the company's stock, valued at approximately $3,249,000. Jefferies Financial Group Inc. owned 0.18% of Grid Dynamics as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $27,000. MCF Advisors LLC raised its holdings in shares of Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after purchasing an additional 740 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $70,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Grid Dynamics by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock valued at $71,000 after purchasing an additional 1,282 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.60.

Grid Dynamics Price Performance

GDYN stock traded down $0.39 during midday trading on Friday, reaching $13.97. 829,938 shares of the company were exchanged, compared to its average volume of 630,090. The business has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $18.15. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 349.25 and a beta of 1.13.

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

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the transaction, the chief financial officer now owns 366,818 shares of the company's stock, valued at approximately $6,639,405.80. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now directly owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. The trade was a 2.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,043 shares of company stock valued at $327,338. 7.20% of the stock is owned by company 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.