146,100 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 146,100 shares of the company’s stock, valued at approximately $3,249,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in Grid Dynamics in the fourth quarter valued at $25,000. Global Retirement Partners LLC bought a new position in Grid Dynamics in the fourth quarter valued at $27,000. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Grid Dynamics in the fourth quarter valued at $70,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Grid Dynamics by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock valued at $71,000 after acquiring an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Trading Down 1.3%

Shares of NASDAQ:GDYN opened at $15.03 on Wednesday. The stock’s 50-day moving average price is $14.85 and its 200-day moving average price is $18.20. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The stock has a market capitalization of $1.26 billion, a P/E ratio of 375.75 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.42 million for the quarter, compared to analysts’ expectations of $98.19 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Grid Dynamics has an average rating of “Buy” and a consensus target price of $17.60.

Insider Activity

In related news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the sale, the chief financial officer now directly owns 366,818 shares of the company’s stock, valued at $6,639,405.80. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the completion of the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at $9,008,282.94. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,043 shares of company stock valued at $327,338. 7.20% of the stock is currently owned by insiders.

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.