Russell Investments Group Ltd. Has $1.14 Million Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Russell Investments Group Ltd. trimmed its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) by 54.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,502 shares of the company’s stock after selling 119,360 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Grid Dynamics worth $1,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GDYN. JPMorgan Chase & Co. boosted its holdings in shares of Grid Dynamics by 161.0% in the first quarter. JPMorgan Chase & Co. now owns 175,617 shares of the company’s stock worth $2,473,000 after buying an additional 108,330 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Grid Dynamics by 4.2% during the first quarter. HighTower Advisors LLC now owns 16,568 shares of the company’s stock worth $225,000 after purchasing an additional 671 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Grid Dynamics by 239.0% during the first quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after purchasing an additional 4,115 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Grid Dynamics by 57.0% during the first quarter. MetLife Investment Management LLC now owns 23,054 shares of the company’s stock worth $325,000 after purchasing an additional 8,370 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Grid Dynamics during the first quarter worth approximately $642,000. 68.69% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Down 0.1 %

NASDAQ:GDYN opened at $8.91 on Thursday. Grid Dynamics Holdings, Inc. has a 12 month low of $8.00 and a 12 month high of $24.27. The firm has a market cap of $667.36 million, a price-to-earnings ratio of -17.82 and a beta of 0.84. The company’s 50 day moving average is $10.53 and its 200-day moving average is $11.41.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Grid Dynamics had a negative net margin of 10.81% and a positive return on equity of 11.08%. The company had revenue of $80.08 million for the quarter, compared to analyst estimates of $79.62 million. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Leonard Livschitz sold 74,296 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $11.82, for a total transaction of $878,178.72. Following the transaction, the chief executive officer now owns 3,274,136 shares of the company’s stock, valued at $38,700,287.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GDYN shares. TheStreet cut shares of Grid Dynamics from a “c” rating to a “d+” rating in a report on Thursday, April 6th. Cantor Fitzgerald cut their price objective on shares of Grid Dynamics from $20.00 to $17.00 in a research report on Friday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Grid Dynamics in a research report on Friday, February 24th. Finally, Citigroup cut their price objective on shares of Grid Dynamics from $17.00 to $14.00 in a research report on Monday, May 8th.

Grid Dynamics Company Profile

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Grid Dynamics Holdings, Inc provides digital engineering and information technology services. The firm core business is to deliver focused and complex technical consulting, software design, development, testing and internet service operations. It also helps organizations become more agile and create innovative digital products and experiences through its deep expertise in emerging technology, such as AI, data science, cloud computing, big data and DevOps, lean software development practices and a performance product culture.