William Blair Investment Management LLC Acquires New Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

William Blair Investment Management LLC acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 997,825 shares of the company’s stock, valued at approximately $22,192,000. William Blair Investment Management LLC owned about 1.21% of Grid Dynamics as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Grid Dynamics in the 4th quarter valued at about $27,000. FMR LLC increased its stake in Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares during the period. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after buying an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock valued at $71,000 after buying an additional 1,282 shares during the period. Finally, Quarry LP increased its stake in Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after buying an additional 2,974 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Price Performance

Shares of GDYN opened at $16.60 on Wednesday. The firm’s 50 day moving average is $20.64 and its 200-day moving average is $18.24. The stock has a market capitalization of $1.39 billion, a P/E ratio of 415.00 and a beta of 1.10. 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (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%. As a group, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC raised 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $19.60.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock valued at $376,590 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.

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.