176,843 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 176,843 shares of the company’s stock, valued at approximately $3,933,000.

Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in Grid Dynamics in the 4th quarter worth about $27,000. FMR LLC increased its stake in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares in the last quarter. MCF Advisors LLC increased its stake in Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares in the last quarter. Quarry LP grew 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 acquiring an additional 2,974 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Grid Dynamics during the 3rd quarter valued at about $122,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the completion of the sale, the chief operating officer now owns 482,759 shares of the company’s stock, 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. In the last quarter, insiders sold 19,306 shares of company stock valued at $376,590. 7.20% of the stock is owned by corporate insiders.

Grid Dynamics Stock Performance

Shares of NASDAQ GDYN opened at $16.82 on Monday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 420.50 and a beta of 1.10. The business has a 50 day simple moving average of $20.84 and a 200 day simple moving average of $18.20. 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 announced its quarterly 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 firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC lifted their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Five 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 currently has an average rating of “Buy” and an average target price of $19.60.

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.