Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by Fourth Sail Capital LP

Fourth Sail Capital LP trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,447 shares of the company’s stock after selling 22,719 shares during the quarter. Grid Dynamics makes up about 1.2% of Fourth Sail Capital LP’s portfolio, making the stock its 19th biggest holding. Fourth Sail Capital LP owned 0.43% of Grid Dynamics worth $3,975,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Grid Dynamics by 113.9% in the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock worth $18,058,000 after acquiring an additional 789,373 shares during the period. Wasatch Advisors LP increased its position in shares of Grid Dynamics by 2.8% in the fourth quarter. Wasatch Advisors LP now owns 7,256,928 shares of the company’s stock valued at $96,735,000 after buying an additional 197,063 shares in the last quarter. G2 Investment Partners Management LLC acquired a new position in shares of Grid Dynamics during the 4th quarter worth approximately $2,234,000. Mutual of America Capital Management LLC lifted its position in shares of Grid Dynamics by 41.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company’s stock valued at $2,789,000 after buying an additional 60,906 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in Grid Dynamics in the 4th quarter valued at $651,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GDYN shares. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Grid Dynamics in a report on Thursday, May 23rd. Cantor Fitzgerald increased their price objective on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Citigroup lowered their target price on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. JPMorgan Chase & Co. cut their price target on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Grid Dynamics in a research note on Friday, May 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.20.

Insider Transactions at Grid Dynamics

In related news, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $9.24, for a total transaction of $92,400.00. Following the completion of the sale, the chief executive officer now owns 3,585,901 shares in the company, valued at approximately $33,133,725.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $9.24, for a total transaction of $92,400.00. Following the completion of the sale, the chief executive officer now owns 3,585,901 shares in the company, valued at $33,133,725.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shuo Zhang sold 4,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $9.34, for a total transaction of $37,360.00. Following the completion of the sale, the director now owns 22,015 shares of the company’s stock, valued at approximately $205,620.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,000 shares of company stock worth $777,810. Insiders own 7.40% of the company’s stock.

Grid Dynamics Stock Down 1.3 %

Grid Dynamics stock traded down $0.13 during mid-day trading on Tuesday, hitting $10.13. The company had a trading volume of 263,877 shares, compared to its average volume of 326,864. Grid Dynamics Holdings, Inc. has a 1 year low of $8.76 and a 1 year high of $14.70. The business has a fifty day moving average of $10.02 and a 200 day moving average of $11.92. The stock has a market cap of $775.15 million, a price-to-earnings ratio of 342.11 and a beta of 1.02.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The firm had revenue of $79.82 million for the quarter, compared to analysts’ expectations of $77.48 million. Equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current 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.