Proficio Capital Partners LLC Takes Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Proficio Capital Partners LLC bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,784 shares of the company’s stock, valued at approximately $796,000.

A number of other institutional investors have also recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the 4th quarter worth about $27,000. MCF Advisors LLC increased its holdings in Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares in the last quarter. FMR LLC increased its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares in the last quarter. Quarry LP increased its holdings in Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Grid Dynamics in the 3rd quarter worth about $122,000. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Grid Dynamics Trading Up 1.0 %

Shares of GDYN opened at $18.42 on Friday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 460.50 and a beta of 1.10. The stock has a 50 day moving average of $21.37 and a 200 day moving average of $18.06. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results 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 firm had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. As a group, equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics 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 completion of the sale, the chief financial officer now owns 373,282 shares of the company’s stock, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,306 shares of company stock worth $364,090. 7.20% of the stock is owned by corporate 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.