Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Bought by Marshall Wace LLP

Marshall Wace LLP lifted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 4,387.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,184 shares of the company's stock after acquiring an additional 580,944 shares during the quarter. Marshall Wace LLP owned 0.72% of Grid Dynamics worth $13,215,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its stake in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after acquiring an additional 801 shares during the period. Stifel Financial Corp grew its position in shares of Grid Dynamics by 8.4% in the third quarter. Stifel Financial Corp now owns 79,214 shares of the company's stock valued at $1,109,000 after purchasing an additional 6,151 shares during the period. State Street Corp increased its stake in shares of Grid Dynamics by 0.5% during the third quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after purchasing an additional 6,938 shares in the last quarter. Barclays PLC raised its position in shares of Grid Dynamics by 173.8% during the 3rd quarter. Barclays PLC now owns 111,182 shares of the company's stock worth $1,556,000 after purchasing an additional 70,579 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock worth $19,344,000 after buying an additional 17,763 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $19.60.

Insider Transactions at Grid Dynamics

In other 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 transaction, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,043 shares of company stock worth $349,078 in the last 90 days. Insiders own 7.20% of the company's stock.

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.05 during trading hours on Friday, hitting $13.96. 278,941 shares of the company's stock traded hands, compared to its average volume of 610,737. The firm's 50-day moving average is $16.20 and its 200-day moving average is $18.28. The company has a market capitalization of $1.17 billion, a PE ratio of 349.00 and a beta of 0.99. 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 earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. Equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Grid Dynamics Company 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.