Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Acquired by Fourth Sail Capital LP

Fourth Sail Capital LP increased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 138.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,924 shares of the company’s stock after buying an additional 446,477 shares during the quarter. Grid Dynamics comprises 1.9% of Fourth Sail Capital LP’s portfolio, making the stock its 17th largest holding. Fourth Sail Capital LP owned about 1.01% of Grid Dynamics worth $8,092,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in shares of Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after purchasing an additional 357,785 shares during the period. Vanguard Group Inc. increased its stake in Grid Dynamics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after buying an additional 64,300 shares during the period. Jennison Associates LLC raised its position in shares of Grid Dynamics by 1.2% during the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after buying an additional 26,974 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after acquiring an additional 396,320 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after acquiring an additional 206,201 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $12.00 to $16.00 in a research report on Friday, August 2nd. Citigroup cut their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Grid Dynamics in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of “Buy” and a consensus target price of $15.67.

Insider Buying and Selling at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total value of $103,800.00. Following the completion of the sale, the chief executive officer now owns 3,565,901 shares of the company’s stock, valued at $37,014,052.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $10.43, for a total value of $31,290.00. Following the transaction, the chief financial officer now owns 372,282 shares in the company, valued at approximately $3,882,901.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total transaction of $103,800.00. Following the sale, the chief executive officer now directly owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The disclosure for this sale can be found here. Insiders have sold a total of 954,387 shares of company stock valued at $12,176,954 in the last three months. 7.40% of the stock is currently owned by company insiders.

Grid Dynamics Trading Up 0.2 %

Shares of GDYN opened at $13.93 on Tuesday. The business’s 50-day moving average price is $13.03 and its 200 day moving average price is $11.60. The stock has a market capitalization of $1.07 billion, a P/E ratio of 464.33 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.02 earnings per share for the current year.

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.