Legal & General Group Plc Raises Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Legal & General Group Plc increased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 84.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,493 shares of the company's stock after buying an additional 63,055 shares during the period. Legal & General Group Plc owned about 0.17% of Grid Dynamics worth $3,058,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Grid Dynamics in the 4th quarter valued at approximately $27,000. FMR LLC boosted its position in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after acquiring an additional 801 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Grid Dynamics by 65.8% in the 4th 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 period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Grid Dynamics by 68.4% in the 4th 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 period. Finally, Atria Investments Inc acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at about $208,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grid Dynamics

In related news, 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 value of $192,309.96. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,043 shares of company stock worth $349,078. 7.20% of the stock is owned by insiders.

Grid Dynamics Stock Down 0.6 %

Shares of GDYN traded down $0.08 on Tuesday, reaching $13.86. The stock had a trading volume of 40,205 shares, compared to its average volume of 609,274. The firm has a market capitalization of $1.16 billion, a PE ratio of 346.50 and a beta of 0.99. The firm has a 50-day moving average of $16.05 and a 200 day moving average of $18.33. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The firm had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 21st. 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 presently has an average rating of "Buy" and an average price target of $19.60.

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.