Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 384.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,277 shares of the company’s stock after buying an additional 33,546 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of Grid Dynamics worth $940,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in shares of Grid Dynamics in the third quarter valued at approximately $8,589,000. SG Americas Securities LLC acquired a new position in Grid Dynamics in the 4th quarter valued at $242,000. Barclays PLC lifted its holdings in Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after purchasing an additional 70,579 shares in the last quarter. Wellington Management Group LLP boosted its stake in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Grid Dynamics by 1.3% during the third 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 in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total transaction of $33,540.00. Following the completion of the sale, the chief operating officer now owns 480,759 shares of the company’s stock, valued at $8,062,328.43. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock valued at $376,590 over the last quarter. 7.20% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Needham & Company LLC raised their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.60.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $16.68 on Wednesday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The stock’s fifty day moving average is $20.23 and its two-hundred day moving average is $18.34. The firm has a market capitalization of $1.40 billion, a P/E ratio of 417.00 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 20th. The company reported $0.04 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 firm had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. As a group, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.