Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 225,360 shares of the company's stock, valued at approximately $5,012,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.27% of Grid Dynamics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Grid Dynamics during the 4th quarter valued at approximately $27,000. FMR LLC boosted its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. MCF Advisors LLC increased 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 purchasing an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after buying an additional 1,282 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after buying an additional 2,974 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares of the company's stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Grid Dynamics Price Performance

NASDAQ:GDYN traded down $0.37 during mid-day trading on Thursday, reaching $16.29. The company's stock had a trading volume of 421,429 shares, compared to its average volume of 566,775. The stock has a market cap of $1.37 billion, a P/E ratio of 407.25 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The company's fifty day simple moving average is $20.14 and its two-hundred day simple moving average is $18.33.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. Sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lifted their price objective 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of "Buy" and an average price target of $19.60.

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.