BNP Paribas Financial Markets Acquires New Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

BNP Paribas Financial Markets bought a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,877 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $242,000. Baader Bank Aktiengesellschaft purchased a new stake in Grid Dynamics during the 4th quarter valued at about $222,000. Trust Point Inc. grew its stake in Grid Dynamics by 7.9% during the 4th quarter. Trust Point Inc. now owns 34,832 shares of the company’s stock valued at $775,000 after acquiring an additional 2,542 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in Grid Dynamics in the 4th quarter valued at about $526,000. Finally, State of Alaska Department of Revenue purchased a new position in Grid Dynamics in the 4th quarter worth approximately $775,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the company’s 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 transaction, the chief financial officer now owns 366,818 shares of the company’s stock, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction dated 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 $9,008,282.94. The trade was 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 $327,338 in the last 90 days. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

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

Grid Dynamics Stock Down 2.1%

Shares of GDYN opened at $12.84 on Tuesday. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The stock has a fifty day simple moving average of $14.23 and a two-hundred day simple moving average of $18.04. The company has a market capitalization of $1.09 billion, a PE ratio of 321.00 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Grid Dynamics’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Grid Dynamics 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.