XTX Topco Ltd Invests $129,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

XTX Topco Ltd purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the second quarter, Holdings Channel reports. The institutional investor purchased 12,238 shares of the company’s stock, valued at approximately $129,000.

A number of other hedge funds have also modified their holdings of the company. Fourth Sail Capital LP increased its stake in Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after buying an additional 396,320 shares during the period. Wasatch Advisors LP grew its holdings in shares of Grid Dynamics by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after buying an additional 357,785 shares during the period. Summit Creek Advisors LLC increased its position in shares of Grid Dynamics by 25.1% in the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after buying an additional 230,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 buying an additional 206,201 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00. Following the sale, the chief executive officer now owns 3,555,901 shares in the company, valued at $41,355,128.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the transaction, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at $4,789,587.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00. Following the transaction, the chief executive officer now owns 3,555,901 shares in the company, valued at $41,355,128.63. The disclosure for this sale can be found here. Insiders sold 956,387 shares of company stock worth $12,247,814 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Citigroup cut their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Needham & Company LLC increased their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.67.

Grid Dynamics Stock Down 0.4 %

NASDAQ:GDYN opened at $14.00 on Tuesday. The company has a market cap of $1.07 billion, a P/E ratio of 466.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $14.70. The business has a 50 day moving average price of $13.50 and a two-hundred day moving average price of $11.67.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last 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.