Loomis Sayles & Co. L P Makes New $55.11 Million Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Loomis Sayles & Co. L P purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,478,115 shares of the company’s stock, valued at approximately $55,114,000. Loomis Sayles & Co. L P owned 3.00% of Grid Dynamics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MCF Advisors LLC grew its holdings in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after buying an additional 740 shares in the last quarter. FMR LLC grew its stake in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Grid Dynamics by 10.5% during the 4th 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. Global Retirement Partners LLC purchased a new stake in Grid Dynamics in the 4th quarter worth approximately $27,000. Finally, Arizona State Retirement System lifted its stake in Grid Dynamics by 7.6% in the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock worth $396,000 after purchasing an additional 1,260 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

GDYN stock opened at $16.66 on Thursday. The firm has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $18.33. The stock has a market cap of $1.40 billion, a PE ratio of 416.50 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $96.00 million. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value 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 $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics 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 completion of the transaction, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,306 shares of company stock valued at $376,590. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five research 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 stock currently has a consensus rating of “Buy” and a consensus target price of $19.60.

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.