Castleark Management LLC Buys Shares of 260,970 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Castleark Management LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 260,970 shares of the company’s stock, valued at approximately $5,804,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Grid Dynamics by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after purchasing an additional 1,171,481 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in Grid Dynamics in the fourth quarter valued at $55,114,000. Dimensional Fund Advisors LP grew its holdings in Grid Dynamics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company’s stock valued at $40,399,000 after purchasing an additional 17,881 shares during the last quarter. Next Century Growth Investors LLC increased its position in shares of Grid Dynamics by 78.1% in the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company’s stock valued at $36,078,000 after buying an additional 711,150 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company’s stock worth $31,895,000 after buying an additional 52,344 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Five 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.60.

Grid Dynamics Stock Performance

GDYN stock opened at $13.27 on Thursday. The stock’s 50 day moving average price is $14.47 and its 200 day moving average price is $18.11. The firm has a market cap of $1.12 billion, a P/E ratio of 331.75 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $100.42 million during the quarter, compared to analysts’ expectations of $98.19 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the sale, the chief financial officer now directly owns 366,818 shares of the company’s stock, valued at approximately $6,639,405.80. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $9,008,282.94. This trade represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,043 shares of company stock worth $327,338. Corporate insiders own 7.20% of the company’s stock.

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.