2,478,115 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,478,115 shares of the company’s stock, valued at approximately $55,114,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after acquiring an additional 1,171,481 shares in the last quarter. Wellington Management Group LLP raised its holdings in Grid Dynamics by 30.9% in 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 in the last quarter. State Street Corp lifted its position in shares of Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company’s stock worth $20,246,000 after purchasing an additional 6,938 shares during the period. Geode Capital Management LLC boosted its stake in shares of Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after purchasing an additional 17,763 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Grid Dynamics during the 4th quarter valued at about $22,192,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Stock Down 0.1 %

GDYN stock opened at $16.66 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The firm has a market cap of $1.40 billion, a PE ratio of 416.50 and a beta of 1.10. The business has a 50 day moving average of $20.14 and a 200 day moving average of $18.33.

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

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the transaction, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock valued at $376,590 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC raised their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $19.60.

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.