Wells Fargo & Company MN Acquires 9,182 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wells Fargo & Company MN boosted its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 39.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,533 shares of the company’s stock after acquiring an additional 9,182 shares during the quarter. Wells Fargo & Company MN’s holdings in Grid Dynamics were worth $724,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GDYN. Barclays PLC boosted its stake in shares of Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after purchasing an additional 70,579 shares during the period. Lord Abbett & CO. LLC bought a new position in Grid Dynamics in the 3rd quarter worth about $8,589,000. Harbor Capital Advisors Inc. increased its position in shares of Grid Dynamics by 10.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after acquiring an additional 1,036 shares during the period. MCF Advisors LLC raised its stake in shares of Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $283,000. Institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC lifted their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.60.

Grid Dynamics Stock Performance

Shares of GDYN opened at $14.08 on Friday. The company has a 50 day moving average price of $15.66 and a 200-day moving average price of $18.26. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The stock has a market capitalization of $1.18 billion, a PE ratio of 352.00 and a beta of 0.99.

Grid Dynamics (NASDAQ:GDYN) last posted its 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). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now owns 482,759 shares in the company, valued at $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,043 shares of company stock worth $349,078 in the last three months. 7.20% of the stock is 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.