Fox Run Management L.L.C. Makes New $223,000 Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fox Run Management L.L.C. bought a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 10,010 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Grid Dynamics during the third quarter worth approximately $153,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Grid Dynamics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock worth $6,499,000 after purchasing an additional 13,785 shares during the period. Quantbot Technologies LP bought a new position in shares of Grid Dynamics during the 3rd quarter valued at approximately $122,000. FMR LLC raised its holdings 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. Finally, Verition Fund Management LLC bought a new stake in Grid Dynamics in the third quarter worth $207,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $15.81 on Friday. The stock has a 50 day moving average price of $19.95 and a 200 day moving average price of $18.32. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The firm has a market capitalization of $1.33 billion, a P/E ratio of 395.25 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $100.28 million for the quarter, compared to the consensus estimate 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, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction 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 directly owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the company’s stock in a transaction 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 $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock worth $376,590 in the last 90 days. 7.20% of the stock is owned by corporate insiders.

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.