Skandinaviska Enskilda Banken AB publ Has $71,000 Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 68.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,157 shares of the company’s stock after buying an additional 1,282 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Grid Dynamics were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Grid Dynamics during the 3rd quarter worth approximately $8,589,000. SG Americas Securities LLC bought a new position in shares of Grid Dynamics in the 4th quarter worth $242,000. Barclays PLC lifted its holdings in shares of Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after purchasing an additional 70,579 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after purchasing an additional 17,763 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC increased their target price on 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.60.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares in the company, valued at $8,214,979.08. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction on 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 owns 482,759 shares in the company, 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. In the last three months, insiders have sold 19,306 shares of company stock worth $376,590. Corporate insiders own 7.20% of the company’s stock.

Grid Dynamics Trading Down 4.0 %

Shares of NASDAQ:GDYN opened at $16.60 on Wednesday. The stock’s fifty day simple moving average is $20.64 and its two-hundred day simple moving average is $18.24. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The stock has a market cap of $1.39 billion, a PE ratio of 415.00 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

About Grid Dynamics

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.