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

Quantbot Technologies LP lifted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 384.2% in the fourth quarter, HoldingsChannel reports. The firm owned 42,277 shares of the company’s stock after buying an additional 33,546 shares during the quarter. Quantbot Technologies LP’s holdings in Grid Dynamics were worth $940,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in shares of Grid Dynamics in the fourth quarter worth $27,000. FMR LLC boosted its holdings in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares during the period. MCF Advisors LLC grew its stake in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock worth $71,000 after purchasing an additional 1,282 shares during the period. Finally, Quarry LP raised its position in Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $16.68 on Wednesday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 417.00 and a beta of 1.10. The business has a 50-day moving average of $20.23 and a two-hundred day moving average of $18.34.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. As a group, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC boosted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $19.60.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yury Gryzlov sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total value of $33,540.00. Following the transaction, the chief operating officer now directly owns 480,759 shares in the company, valued at approximately $8,062,328.43. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,306 shares of company stock worth $376,590. Corporate insiders own 7.20% of the company’s stock.

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.