Occudo Quantitative Strategies LP Invests $522,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Occudo Quantitative Strategies LP purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 23,469 shares of the company’s stock, valued at approximately $522,000.

A number of other large investors have also recently added to or reduced their stakes in GDYN. Coppell Advisory Solutions LLC bought a new stake in shares of Grid Dynamics in the 4th quarter worth about $25,000. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the fourth quarter worth about $27,000. MCF Advisors LLC increased its holdings 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 buying an additional 740 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Grid Dynamics during the fourth quarter valued at approximately $70,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock worth $71,000 after buying an additional 1,282 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Grid Dynamics Trading Down 5.3%

Shares of Grid Dynamics stock opened at $14.23 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 355.75 and a beta of 1.13. The business’s 50 day simple moving average is $14.76 and its 200-day simple moving average is $18.18.

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

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at approximately $6,639,405.80. This trade represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,043 shares of company stock valued at $327,338 in the last quarter. Company insiders own 7.20% of the company’s stock.

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.