997,825 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 997,825 shares of the company’s stock, valued at approximately $22,192,000.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Grid Dynamics during the fourth quarter worth approximately $27,000. FMR LLC boosted its holdings in shares of Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares during the period. MCF Advisors LLC boosted its holdings 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 worth $41,000 after purchasing an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ lifted 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. Finally, Quarry LP lifted its stake in Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 341,012 shares in the company, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC lifted their target price on shares of 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 given a strong buy rating to the stock. According to data from MarketBeat, Grid Dynamics presently has an average rating of “Buy” and an average price target of $19.60.

Grid Dynamics Stock Down 4.0 %

NASDAQ GDYN opened at $16.60 on Wednesday. The stock has a market capitalization of $1.39 billion, a PE ratio of 415.00 and a beta of 1.10. The company has a 50 day moving average price of $20.64 and a two-hundred day moving average price of $18.24. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. As a group, equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current 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.