Wasatch Advisors LP Has $93.59 Million Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wasatch Advisors LP lifted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 4.9% in the first quarter, HoldingsChannel reports. The firm owned 7,614,713 shares of the company’s stock after purchasing an additional 357,785 shares during the period. Wasatch Advisors LP owned 0.10% of Grid Dynamics worth $93,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after purchasing an additional 396,320 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Grid Dynamics by 6.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 84,379 shares of the company’s stock worth $1,125,000 after acquiring an additional 5,328 shares in the last quarter. G2 Investment Partners Management LLC purchased a new stake in Grid Dynamics in the 4th quarter worth about $2,234,000. CenterBook Partners LP purchased a new stake in Grid Dynamics in the 4th quarter worth about $651,000. Finally, Olympiad Research LP purchased a new stake in Grid Dynamics in the 4th quarter worth about $211,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.54, for a total value of $105,400.00. Following the sale, the chief executive officer now owns 3,660,691 shares of the company’s stock, valued at approximately $38,583,683.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.54, for a total value of $105,400.00. Following the sale, the chief executive officer now owns 3,660,691 shares of the company’s stock, valued at approximately $38,583,683.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shuo Zhang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $9.34, for a total value of $37,360.00. Following the completion of the sale, the director now directly owns 22,015 shares in the company, valued at approximately $205,620.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $777,810. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GDYN shares. 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 increased their price objective on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Grid Dynamics in a research note on Friday, May 3rd. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. cut their price target on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Grid Dynamics presently has a consensus rating of “Buy” and an average target price of $15.20.

Grid Dynamics Stock Up 2.1 %

Shares of GDYN traded up $0.22 during midday trading on Tuesday, reaching $10.57. 281,509 shares of the stock were exchanged, compared to its average volume of 329,664. The firm has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $11.79. Grid Dynamics Holdings, Inc. has a 12-month low of $9.00 and a 12-month high of $14.70. The company has a market cap of $808.82 million, a price-to-earnings ratio of 352.45 and a beta of 1.05.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The company had revenue of $79.82 million during the quarter, compared to the consensus estimate of $77.48 million. Research analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.

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.