Riverbridge Partners LLC grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,804,475 shares of the company's stock after buying an additional 802,968 shares during the quarter. Riverbridge Partners LLC owned 5.65% of Grid Dynamics worth $71,258,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Wasatch Advisors Inc. grew its stake in shares of Grid Dynamics by 101.7% during the 1st quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company's stock worth $72,215,000 after purchasing an additional 2,585,803 shares during the period. Toronado Partners LLC grew its stake in shares of Grid Dynamics by 166.5% during the 1st quarter. Toronado Partners LLC now owns 2,117,679 shares of the company's stock worth $29,817,000 after purchasing an additional 1,323,046 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Grid Dynamics during the 2nd quarter worth $21,818,000. Next Century Growth Investors LLC grew its stake in shares of Grid Dynamics by 107.2% during the 1st quarter. Next Century Growth Investors LLC now owns 1,349,807 shares of the company's stock worth $19,005,000 after purchasing an additional 698,500 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Grid Dynamics by 31.2% during the 2nd quarter. Jennison Associates LLC now owns 2,097,627 shares of the company's stock worth $35,282,000 after purchasing an additional 499,263 shares during the period. Hedge funds and other institutional investors own 68.69% of the company's stock.
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Analyst Upgrades and Downgrades
GDYN has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Grid Dynamics from $30.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Grid Dynamics from $18.00 to $17.00 in a research note on Thursday, December 15th. Finally, Citigroup lowered their price objective on shares of Grid Dynamics from $27.00 to $18.00 in a research note on Friday, November 4th.
Insiders Place Their Bets
In other Grid Dynamics news, insider Stan Klimoff sold 12,000 shares of the firm's stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $16.92, for a total transaction of $203,040.00. Following the sale, the insider now directly owns 260,173 shares of the company's stock, valued at approximately $4,402,127.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through
the SEC website. In other news, Director Lloyd Carney sold 60,000 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $12.48, for a total transaction of $748,800.00. Following the transaction, the director now directly owns 708,709 shares in the company, valued at approximately $8,844,688.32. The sale was disclosed in a legal filing with the SEC, which is available at
this hyperlink. Also, insider Stan Klimoff sold 12,000 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $16.92, for a total transaction of $203,040.00. Following the transaction, the insider now owns 260,173 shares in the company, valued at $4,402,127.16. The disclosure for this sale can be found
here. 11.80% of the stock is owned by corporate insiders.
Grid Dynamics Price Performance
NASDAQ GDYN traded up $0.07 during trading hours on Tuesday, reaching $11.29. The company's stock had a trading volume of 3,881 shares, compared to its average volume of 495,312. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.09 and a fifty-two week high of $39.67. The company's 50-day moving average is $12.00 and its two-hundred day moving average is $16.05.
Grid Dynamics (NASDAQ:GDYN – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Grid Dynamics had a negative net margin of 8.81% and a positive return on equity of 12.78%. The company had revenue of $81.16 million for the quarter, compared to analysts' expectations of $78.82 million. As a group, research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.
Grid Dynamics Company Profile
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Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.
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