Baader Bank Aktiengesellschaft Invests $222,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Baader Bank Aktiengesellschaft acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, Holdings Channel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted 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 buying an additional 675,419 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Grid Dynamics during the 3rd quarter valued at $8,589,000. Dimensional Fund Advisors LP grew its position in Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in Grid Dynamics in the 3rd quarter worth about $1,751,000. Finally, Vontobel Holding Ltd. bought a new position in Grid Dynamics in the third quarter valued at about $1,143,000. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GDYN. Citigroup raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen raised their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC upped their target price on Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.33.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $22.59 on Friday. The business’s 50-day moving average is $20.45 and its 200-day moving average is $16.48. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $24.16. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 753.25 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

Insider Activity

In other news, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the sale, the chief financial officer now directly owns 376,282 shares in the company, valued at $6,645,140.12. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 10,000 shares of company stock worth $194,240 in the last quarter. 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.