Swiss National Bank Purchases 8,700 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Swiss National Bank raised its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 7.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 120,600 shares of the company’s stock after buying an additional 8,700 shares during the period. Swiss National Bank’s holdings in Grid Dynamics were worth $2,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GDYN. Wellington Management Group LLP grew its position in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after purchasing an additional 675,419 shares in the last quarter. State Street Corp grew its holdings in shares of Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company’s stock valued at $20,246,000 after acquiring an additional 6,938 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after acquiring an additional 17,763 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Grid Dynamics during the third quarter worth about $8,589,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Grid Dynamics by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company’s stock valued at $11,244,000 after purchasing an additional 41,390 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 10,306 shares of the 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 transaction, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This trade represents a 0.87 % 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 worth $376,590 over the last ninety days. Insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC boosted their price target on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report 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’s stock. Based on data from MarketBeat.com, Grid Dynamics presently has a consensus rating of “Buy” and a consensus target price of $19.60.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $16.29 on Friday. The stock has a 50-day simple moving average of $20.05 and a 200 day simple moving average of $18.31. The stock has a market capitalization of $1.37 billion, a P/E ratio of 407.25 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.

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). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 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.