Lord Abbett & CO. LLC increased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 835,856 shares of the company's stock after acquiring an additional 222,328 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.01% of Grid Dynamics worth $18,589,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in GDYN. Oberweis Asset Management Inc. increased its holdings in shares of Grid Dynamics by 24.5% during the 4th quarter. Oberweis Asset Management Inc. now owns 503,000 shares of the company's stock worth $11,187,000 after buying an additional 99,100 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Grid Dynamics during the 4th quarter valued at $295,000. Coppell Advisory Solutions LLC purchased a new stake in Grid Dynamics during the 4th quarter worth $25,000. T. Rowe Price Investment Management Inc. acquired a new stake in Grid Dynamics in the 4th quarter valued at $15,542,000. Finally, Price T Rowe Associates Inc. MD raised its position in Grid Dynamics by 24.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,917 shares of the company's stock valued at $777,000 after purchasing an additional 6,815 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Grid Dynamics
In related news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $13.97, for a total value of $27,940.00. Following the completion of the transaction, the chief operating officer now directly owns 476,269 shares in the company, valued at approximately $6,653,477.93. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 19,043 shares of company stock valued at $349,078. Insiders own 7.20% of the company's stock.
Grid Dynamics Stock Performance
Shares of NASDAQ GDYN traded down $0.66 during midday trading on Friday, reaching $13.43. 589,634 shares of the company's stock were exchanged, compared to its average volume of 753,555. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The business's fifty day moving average price is $15.66 and its two-hundred day moving average price is $18.26. The stock has a market capitalization of $1.13 billion, a PE ratio of 336.58 and a beta of 0.99.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same period in the prior year, the company posted $0.10 EPS. Grid Dynamics's quarterly revenue was up 25.8% on a year-over-year basis. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $17.60.
Read Our Latest Research Report on GDYN
Grid Dynamics Profile
(
Free Report)
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.
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