Ameriprise Financial Inc. Buys 138,529 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ameriprise Financial Inc. increased its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 303.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,130 shares of the company’s stock after purchasing an additional 138,529 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Grid Dynamics worth $4,095,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GDYN. American Century Companies Inc. boosted its stake in Grid Dynamics by 824.9% in the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company’s stock worth $13,821,000 after buying an additional 554,275 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Grid Dynamics in the fourth quarter worth approximately $242,000. Envestnet Asset Management Inc. boosted its stake in Grid Dynamics by 15.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company’s stock worth $4,734,000 after buying an additional 28,505 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Grid Dynamics by 1,540.0% in the fourth quarter. Principal Financial Group Inc. now owns 316,601 shares of the company’s stock worth $7,041,000 after buying an additional 297,296 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Grid Dynamics by 14.2% in the fourth quarter. Northern Trust Corp now owns 851,727 shares of the company’s stock worth $18,942,000 after buying an additional 106,193 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics 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 completion of the sale, the chief operating officer now owns 482,759 shares of the company’s stock, valued at $9,008,282.94. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, March 7th. The stock was 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 $6,639,405.80. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,043 shares of company stock valued at $327,338 over the last 90 days. Company insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $12.84 on Monday. The firm has a market cap of $1.09 billion, a PE ratio of 321.00 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The business has a 50 day moving average price of $14.31 and a 200-day moving average price of $18.08.

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

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.75.

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.