Essex Investment Management Co. LLC Purchases Shares of 139,676 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Essex Investment Management Co. LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 139,676 shares of the company’s stock, valued at approximately $3,106,000. Essex Investment Management Co. LLC owned approximately 0.17% of Grid Dynamics as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GDYN. Wellington Management Group LLP boosted 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 acquiring an additional 675,419 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter worth $8,589,000. Principal Financial Group Inc. boosted its stake in shares of Grid Dynamics by 1,540.0% during the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company’s stock worth $7,041,000 after acquiring an additional 297,296 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Grid Dynamics during the 4th quarter worth $4,406,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company’s stock worth $8,500,000 after acquiring an additional 186,661 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, February 7th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,306 shares of company stock worth $364,090. Corporate insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Up 1.0 %

Shares of Grid Dynamics stock opened at $18.42 on Friday. The stock has a market cap of $1.52 billion, a PE ratio of 460.50 and a beta of 1.10. The business has a fifty day simple moving average of $21.37 and a 200-day simple moving average of $18.06. 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 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 during the quarter, compared to analyst estimates of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. Analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC raised their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $19.17.

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.