Blair William & Co. IL Sells 22,235 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Blair William & Co. IL lowered its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 780,202 shares of the company’s stock after selling 22,235 shares during the period. Blair William & Co. IL’s holdings in Grid Dynamics were worth $17,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P purchased a new position in shares of Grid Dynamics in the 4th quarter worth about $55,114,000. Vanguard Group Inc. boosted its stake in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after acquiring an additional 1,171,481 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Grid Dynamics during the 4th quarter valued at approximately $22,192,000. Wellington Management Group LLP increased its stake in shares of Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics in the 3rd quarter worth approximately $8,589,000. Institutional investors own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total transaction of $33,540.00. Following the transaction, the chief operating officer now owns 480,759 shares in the company, valued at $8,062,328.43. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,306 shares of company stock valued at $376,590 over the last three months. 7.20% of the stock is owned by corporate insiders.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $15.81 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of 395.25 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The business’s fifty day moving average is $19.95 and its 200 day moving average is $18.32.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average 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.