Essex Investment Management Co. LLC Invests $3.11 Million in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Essex Investment Management Co. LLC acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 139,676 shares of the company’s stock, valued at approximately $3,106,000.

Other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC bought a new position in shares of Grid Dynamics in the third quarter worth about $8,589,000. SG Americas Securities LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $242,000. Barclays PLC increased its stake in shares of 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 purchasing an additional 70,579 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 purchasing an additional 675,419 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after purchasing an additional 17,763 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now directly owns 343,012 shares of the company’s stock, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now owns 482,759 shares of the company’s stock, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,306 shares of company stock valued at $364,090. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Stock Up 1.0 %

GDYN stock opened at $18.42 on Friday. The business’s 50-day simple moving average is $21.37 and its 200 day simple moving average is $18.06. The company has a market cap of $1.52 billion, a PE ratio of 460.50 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. On average, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their target price 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average target price of $19.17.

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.