Dimensional Fund Advisors LP Buys 17,881 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Dimensional Fund Advisors LP lifted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,816,447 shares of the company’s stock after purchasing an additional 17,881 shares during the period. Dimensional Fund Advisors LP’s holdings in Grid Dynamics were worth $40,399,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GDYN. Global Retirement Partners LLC acquired a new position in Grid Dynamics during the 4th quarter worth $27,000. MCF Advisors LLC lifted its stake in shares of Grid Dynamics by 65.8% during 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 period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Grid Dynamics by 68.4% during 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 period. Atria Investments Inc bought a new position in Grid Dynamics in the fourth quarter valued at about $208,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Grid Dynamics in the fourth quarter worth about $208,000. 71.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC upped their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and a consensus price target of $17.60.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares in the company, valued at $9,008,282.94. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,043 shares of company stock valued at $349,078 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Trading Down 3.1 %

NASDAQ GDYN opened at $13.64 on Friday. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a 50-day simple moving average of $15.53 and a 200 day simple moving average of $18.27. The company has a market capitalization of $1.14 billion, a PE ratio of 341.00 and a beta of 0.99.

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

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.