Fourth Sail Capital LP Purchases Shares of 346,166 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fourth Sail Capital LP purchased a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 346,166 shares of the company's stock, valued at approximately $4,614,000. Grid Dynamics comprises 1.4% of Fourth Sail Capital LP's holdings, making the stock its 19th largest position. Fourth Sail Capital LP owned 0.46% of Grid Dynamics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GDYN. Vanguard Group Inc. boosted its holdings in shares of Grid Dynamics by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,007,370 shares of the company's stock valued at $48,810,000 after buying an additional 45,750 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Grid Dynamics by 113.9% during the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company's stock worth $18,058,000 after purchasing an additional 789,373 shares in the last quarter. Summit Creek Advisors LLC lifted its holdings in shares of Grid Dynamics by 0.4% in the 3rd quarter. Summit Creek Advisors LLC now owns 984,074 shares of the company's stock valued at $11,986,000 after purchasing an additional 3,564 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Grid Dynamics by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company's stock valued at $5,218,000 after purchasing an additional 29,892 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Grid Dynamics by 5.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company's stock worth $3,308,000 after buying an additional 14,940 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Trading Up 1.4 %

Shares of NASDAQ:GDYN traded up $0.14 during midday trading on Wednesday, hitting $9.91. The stock had a trading volume of 308,328 shares, compared to its average volume of 309,042. The company has a market capitalization of $752.86 million, a PE ratio of -330.22 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1 year low of $8.00 and a 1 year high of $14.70. The stock has a 50 day moving average price of $11.90 and a two-hundred day moving average price of $12.36.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The business had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. During the same period last year, the business posted $0.14 EPS. Grid Dynamics's revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total transaction of $105,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,660,691 shares in the company, valued at approximately $38,583,683.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.26, for a total transaction of $53,040.00. Following the completion of the transaction, the chief financial officer now directly owns 395,568 shares in the company, valued at approximately $5,245,231.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total transaction of $105,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,660,691 shares in the company, valued at approximately $38,583,683.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,884 shares of company stock worth $1,069,255. 7.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on GDYN. Citigroup reduced their price objective on Grid Dynamics from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, April 22nd. Cantor Fitzgerald upped their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Grid Dynamics has a consensus rating of "Buy" and an average target price of $15.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.