Rice Hall James & Associates LLC Buys 64,002 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Rice Hall James & Associates LLC boosted its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 51.2% during the 4th quarter, Holdings Channel reports. The fund owned 189,086 shares of the company’s stock after buying an additional 64,002 shares during the period. Rice Hall James & Associates LLC’s holdings in Grid Dynamics were worth $4,205,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after purchasing an additional 675,419 shares during the period. State Street Corp raised its position in shares of Grid Dynamics by 0.5% in the third quarter. State Street Corp now owns 1,446,130 shares of the company’s stock valued at $20,246,000 after buying an additional 6,938 shares during the last quarter. Geode Capital Management LLC raised its holdings in Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after acquiring an additional 17,763 shares during the last quarter. Royce & Associates LP increased its stake in shares of Grid Dynamics by 5.9% in the 3rd quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock worth $11,229,000 after acquiring an additional 44,720 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Grid Dynamics during the third quarter worth about $8,589,000. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GDYN shares. JPMorgan Chase & Co. lifted their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, TD Cowen raised their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five 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, the stock currently has a consensus rating of “Buy” and an average price target of $18.33.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $22.52 on Tuesday. The company has a 50 day moving average price of $21.50 and a 200 day moving average price of $17.46. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 750.92 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $24.60.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares in the company, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 8,000 shares of company stock worth $171,780. 7.20% of the stock is currently owned by corporate insiders.

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.