Riverbridge Partners LLC Grows Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Riverbridge Partners LLC boosted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,325,564 shares of the company’s stock after buying an additional 60,698 shares during the quarter. Riverbridge Partners LLC’s holdings in Grid Dynamics were worth $55,936,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Grid Dynamics by 5.1% in the fourth quarter. Rhumbline Advisers now owns 40,074 shares of the company’s stock worth $1,522,000 after purchasing an additional 1,957 shares during the period. Hardy Reed LLC purchased a new stake in Grid Dynamics in the first quarter worth $70,000. Blueshift Asset Management LLC purchased a new stake in Grid Dynamics in the first quarter worth $222,000. Jennison Associates LLC increased its stake in Grid Dynamics by 2.5% in the first quarter. Jennison Associates LLC now owns 1,598,364 shares of the company’s stock worth $22,505,000 after purchasing an additional 39,252 shares during the period. Finally, Next Century Growth Investors LLC grew its position in shares of Grid Dynamics by 107.2% during the 1st quarter. Next Century Growth Investors LLC now owns 1,349,807 shares of the company’s stock worth $19,005,000 after buying an additional 698,500 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price target on Grid Dynamics to $27.00 in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $18.21 on Monday. Grid Dynamics Holdings, Inc. has a 52-week low of $9.09 and a 52-week high of $42.81. The business has a 50-day moving average price of $19.21 and a 200-day moving average price of $16.67.

Insider Transactions at Grid Dynamics

In related news, CEO Leonard Livschitz sold 156,192 shares of Grid Dynamics stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $19.65, for a total transaction of $3,069,172.80. Following the completion of the transaction, the chief executive officer now directly owns 3,032,205 shares in the company, valued at $59,582,828.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Leonard Livschitz sold 156,192 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $19.65, for a total value of $3,069,172.80. Following the completion of the sale, the chief executive officer now directly owns 3,032,205 shares in the company, valued at $59,582,828.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stan Klimoff sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $19.80, for a total value of $237,600.00. Following the completion of the sale, the insider now owns 276,431 shares of the company’s stock, valued at $5,473,333.80. The disclosure for this sale can be found here. Company insiders own 11.80% of the company’s stock.

Grid Dynamics Profile

(Get Rating)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

See Also

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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