Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) is Fourth Sail Capital LP’s 9th Largest Position

Fourth Sail Capital LP reduced its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 672,661 shares of the company’s stock after selling 81,152 shares during the period. Grid Dynamics accounts for about 4.4% of Fourth Sail Capital LP’s holdings, making the stock its 9th biggest position. Fourth Sail Capital LP owned 0.82% of Grid Dynamics worth $14,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in shares of Grid Dynamics by 30.9% in the 3rd 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 during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Grid Dynamics during the third quarter worth about $8,589,000. Principal Financial Group Inc. grew its stake in Grid Dynamics by 1,540.0% during the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company’s stock worth $7,041,000 after buying an additional 297,296 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Grid Dynamics by 95.5% in the fourth quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company’s stock valued at $8,500,000 after buying an additional 186,661 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Grid Dynamics by 89.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 347,944 shares of the company’s stock worth $7,738,000 after acquiring an additional 164,206 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00. Following the sale, the chief financial officer now directly owns 373,282 shares in the company, valued at approximately $7,122,220.56. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,000 shares of company stock worth $171,780 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Stock Down 1.5 %

Shares of Grid Dynamics stock opened at $18.82 on Monday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 470.50 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The company’s 50-day simple moving average is $21.61 and its 200-day simple moving average is $17.91.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC raised their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.17.

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.