Northern Trust Corp Grows Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Northern Trust Corp grew its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 851,727 shares of the company's stock after purchasing an additional 106,193 shares during the quarter. Northern Trust Corp owned approximately 1.03% of Grid Dynamics worth $18,942,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Grid Dynamics during the 4th quarter valued at $55,114,000. Dimensional Fund Advisors LP increased its position in shares of Grid Dynamics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares during the last quarter. Next Century Growth Investors LLC increased its position in shares of Grid Dynamics by 78.1% during the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock valued at $36,078,000 after purchasing an additional 711,150 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after purchasing an additional 52,344 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the transaction, the chief operating officer now owns 474,269 shares in the company, valued at $6,269,836.18. This trade represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 19,043 shares of company stock worth $327,338 in the last quarter. 7.20% of the stock is owned by company insiders.

Grid Dynamics Trading Down 2.7%

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

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $98.19 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Grid Dynamics 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.