Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Acquired by Wasatch Advisors LP

Wasatch Advisors LP raised its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,614,713 shares of the company’s stock after acquiring an additional 357,785 shares during the period. Wasatch Advisors LP owned approximately 10.02% of Grid Dynamics worth $93,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Arizona State Retirement System increased its holdings in shares of Grid Dynamics by 5.3% during the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after purchasing an additional 855 shares in the last quarter. American Trust increased its holdings in shares of Grid Dynamics by 10.1% during the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after purchasing an additional 1,186 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Grid Dynamics during the 4th quarter valued at approximately $26,000. New York State Common Retirement Fund increased its holdings in shares of Grid Dynamics by 13.3% during the 4th quarter. New York State Common Retirement Fund now owns 20,786 shares of the company’s stock valued at $277,000 after purchasing an additional 2,434 shares in the last quarter. Finally, 1492 Capital Management LLC increased its holdings in shares of Grid Dynamics by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 271,964 shares of the company’s stock valued at $3,625,000 after purchasing an additional 2,926 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Grid Dynamics in a report on Thursday, May 23rd. Citigroup cut their price target on shares of Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Grid Dynamics in a report on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald boosted their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.20.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $11.87, for a total value of $178,050.00. Following the sale, the chief executive officer now owns 3,670,691 shares of the company’s stock, valued at $43,571,102.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now owns 385,979 shares of the company’s stock, valued at $3,859,790. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total transaction of $178,050.00. Following the sale, the chief executive officer now directly owns 3,670,691 shares in the company, valued at approximately $43,571,102.17. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $777,810 over the last 90 days. 7.40% of the stock is owned by corporate insiders.

Grid Dynamics Trading Up 2.1 %

NASDAQ GDYN traded up $0.22 during trading hours on Tuesday, reaching $10.57. The company had a trading volume of 281,509 shares, compared to its average volume of 329,664. The stock has a market capitalization of $808.82 million, a P/E ratio of 352.45 and a beta of 1.05. The stock has a 50-day moving average of $10.02 and a 200 day moving average of $11.79. Grid Dynamics Holdings, Inc. has a 1-year low of $9.00 and a 1-year high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The business had revenue of $79.82 million during the quarter, compared to analysts’ expectations of $77.48 million. As a group, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current 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.