Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 824.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 621,465 shares of the company’s stock after acquiring an additional 554,275 shares during the quarter. American Century Companies Inc. owned approximately 0.75% of Grid Dynamics worth $13,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP increased its stake in shares of Grid Dynamics by 384.2% in the 4th quarter. Quantbot Technologies LP now owns 42,277 shares of the company’s stock valued at $940,000 after purchasing an additional 33,546 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $5,012,000. Maryland State Retirement & Pension System acquired a new position in shares of Grid Dynamics during the 4th quarter worth approximately $463,000. Intech Investment Management LLC raised its stake in shares of Grid Dynamics by 161.8% during the 4th quarter. Intech Investment Management LLC now owns 28,669 shares of the company’s stock worth $638,000 after buying an additional 17,718 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Grid Dynamics during the 4th quarter valued at approximately $1,061,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC boosted their price target 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.60.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $15.52 on Wednesday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The stock’s fifty day moving average is $19.74 and its two-hundred day moving average is $18.40. The firm has a market capitalization of $1.30 billion, a P/E ratio of 388.00 and a beta of 1.10.

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

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total value of $66,360.00. Following the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction on 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 90 days, insiders sold 19,306 shares of company stock valued at $376,590. 7.20% of the stock is currently owned by insiders.

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.