Geode Capital Management LLC Boosts Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Geode Capital Management LLC boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 1.3% in the third quarter, Holdings Channel.com reports. The fund owned 1,381,429 shares of the company’s stock after buying an additional 17,763 shares during the quarter. Geode Capital Management LLC’s holdings in Grid Dynamics were worth $19,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Grid Dynamics by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after acquiring an additional 1,184 shares during the period. Trust Point Inc. grew its position in shares of Grid Dynamics by 5.0% during the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after acquiring an additional 1,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Grid Dynamics by 17.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after acquiring an additional 2,673 shares during the period. Finally, Quarry LP raised its position in Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $22.70 on Friday. The firm’s 50-day moving average is $18.13 and its two-hundred day moving average is $14.63. The company has a market capitalization of $1.87 billion, a PE ratio of 756.92 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $24.16.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. Grid Dynamics’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. On average, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $399,260 over the last quarter. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.