Fourth Sail Capital LP Purchases 446,477 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fourth Sail Capital LP increased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 138.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 769,924 shares of the company’s stock after buying an additional 446,477 shares during the period. Grid Dynamics accounts for 1.9% of Fourth Sail Capital LP’s portfolio, making the stock its 17th largest holding. Fourth Sail Capital LP’s holdings in Grid Dynamics were worth $8,092,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in shares of Grid Dynamics by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after purchasing an additional 357,785 shares during the last quarter. Vanguard Group Inc. raised its holdings in Grid Dynamics by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after buying an additional 64,300 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Grid Dynamics by 1.2% in the first quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after buying an additional 26,974 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Grid Dynamics by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after acquiring an additional 396,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total value of $103,800.00. Following the sale, the chief executive officer now owns 3,565,901 shares of the company’s stock, valued at $37,014,052.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the sale, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 954,387 shares of company stock worth $12,176,954. Company insiders own 7.40% of the company’s stock.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $13.93 on Tuesday. The company’s fifty day moving average is $13.03 and its two-hundred day moving average is $11.60. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 464.33 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GDYN. Needham & Company LLC boosted their target price on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Grid Dynamics in a research note on Thursday, May 23rd. JPMorgan Chase & Co. raised their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Citigroup decreased their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. Five research 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, the stock presently has an average rating of “Buy” and an average target price of $15.67.

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.