Legato Capital Management LLC Purchases New Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Legato Capital Management LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,768 shares of the company’s stock, valued at approximately $929,000. Legato Capital Management LLC owned approximately 0.05% of Grid Dynamics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new stake in Grid Dynamics in the third quarter worth $8,589,000. SG Americas Securities LLC acquired a new stake in Grid Dynamics in the fourth quarter worth $242,000. Vontobel Holding Ltd. acquired a new stake in Grid Dynamics in the third quarter worth $1,143,000. Barclays PLC increased its position in Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after buying an additional 70,579 shares during the period. Finally, Wellington Management Group LLP increased its position in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after buying an additional 675,419 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the transaction, the chief financial officer now owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 8,000 shares of company stock valued at $171,780. 7.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. TD Cowen increased their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup increased their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.33.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $22.84 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $24.60. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 761.59 and a beta of 1.01. The business has a fifty day moving average of $21.27 and a 200-day moving average of $17.22.

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.