Skandinaviska Enskilda Banken AB publ Purchases 1,282 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Skandinaviska Enskilda Banken AB publ increased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 68.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,157 shares of the company’s stock after purchasing an additional 1,282 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Grid Dynamics were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MCF Advisors LLC lifted its position in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares during the period. FMR LLC lifted its holdings in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Grid Dynamics by 10.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after acquiring an additional 1,036 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $27,000. Finally, Arizona State Retirement System lifted its holdings in shares of Grid Dynamics by 7.6% in the fourth quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock worth $396,000 after acquiring an additional 1,260 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC increased their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $19.60.

Grid Dynamics Trading Down 4.0 %

GDYN stock opened at $16.60 on Wednesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 415.00 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The firm has a 50-day moving average price of $20.64 and a 200-day moving average price of $18.24.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. As a group, equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the completion of the transaction, the chief operating officer now owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock worth $376,590 in the last quarter. 7.20% of the stock is owned by insiders.

About Grid Dynamics

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.