Ensign Peak Advisors Inc Makes New $20.16 Million Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ensign Peak Advisors Inc bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 906,583 shares of the company’s stock, valued at approximately $20,162,000.

A number of other hedge funds also recently modified their holdings of the business. Coppell Advisory Solutions LLC purchased a new position in shares of Grid Dynamics during the fourth quarter valued at $25,000. Global Retirement Partners LLC purchased a new stake in Grid Dynamics in the 4th quarter worth about $27,000. MCF Advisors LLC boosted its position in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares during the period. Johnson Financial Group Inc. purchased a new position in Grid Dynamics during the 4th quarter valued at about $70,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock valued at $71,000 after acquiring an additional 1,282 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $13.95 on Monday. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The business’s 50-day moving average price is $14.98 and its two-hundred day moving average price is $18.23. The company has a market capitalization of $1.17 billion, a P/E ratio of 348.75 and a beta of 1.13.

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

Wall Street Analyst Weigh In

Separately, Needham & Company LLC increased their price target 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. According to data from MarketBeat, Grid Dynamics has an average rating of “Buy” and a consensus target price of $17.60.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the transaction, the chief operating officer now directly owns 474,269 shares in the company, valued at $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,043 shares of company stock worth $327,338 over the last ninety days. 7.20% of the stock is currently owned by insiders.

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.