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 Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,784 shares of the company’s stock, valued at approximately $796,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Grid Dynamics during the 4th quarter valued at approximately $27,000. MCF Advisors LLC lifted its stake in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after buying an additional 740 shares in the last quarter. FMR LLC lifted its stake in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares in the last quarter. Quarry LP lifted its stake in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after buying an additional 2,974 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Grid Dynamics during the 3rd quarter valued at approximately $122,000. 71.18% of the stock is owned by institutional investors.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Yury Gryzlov sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total transaction of $33,540.00. Following the sale, the chief operating officer now directly owns 480,759 shares in the company, valued at $8,062,328.43. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,306 shares of company stock valued at $376,590. Company insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Performance

GDYN stock opened at $16.26 on Friday. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50. The firm’s fifty day moving average is $20.38 and its 200 day moving average is $18.27. The firm has a market cap of $1.36 billion, a P/E ratio of 406.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly 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 the consensus estimate 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, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

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 research note on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Grid Dynamics presently has a consensus rating of “Buy” and a consensus price target of $19.60.

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.