EAM Global Investors LLC Buys Shares of 230,324 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

EAM Global Investors LLC purchased a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 230,324 shares of the company’s stock, valued at approximately $5,122,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EAM Investors LLC bought a new stake in Grid Dynamics during the 4th quarter worth approximately $3,939,000. Barclays PLC lifted its holdings in shares of Grid Dynamics by 7.5% during the fourth quarter. Barclays PLC now owns 119,489 shares of the company’s stock worth $2,658,000 after purchasing an additional 8,307 shares during the period. Next Century Growth Investors LLC grew its stake in shares of Grid Dynamics by 78.1% in the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company’s stock worth $36,078,000 after purchasing an additional 711,150 shares during the last quarter. Raymond James Financial Inc. bought a new position in Grid Dynamics during the 4th quarter worth $4,406,000. Finally, Renaissance Group LLC bought a new position in Grid Dynamics during the 4th quarter worth $4,953,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 sale, the chief financial officer now owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock worth $349,078 in the last quarter. Company insiders own 7.20% of the company’s stock.

Grid Dynamics Trading Up 1.0 %

Shares of GDYN opened at $13.75 on Wednesday. The firm’s fifty day simple moving average is $17.73 and its two-hundred day simple moving average is $18.36. 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 $1.15 billion, a P/E ratio of 343.75 and a beta of 0.99.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 20th. The company reported $0.04 EPS 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 the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC increased their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.60.

Grid Dynamics Company 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.