Maryland State Retirement & Pension System Invests $463,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Maryland State Retirement & Pension System purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,804 shares of the company's stock, valued at approximately $463,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Grid Dynamics in the 4th quarter valued at $27,000. FMR LLC grew its holdings in shares of 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 buying an additional 801 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after buying an additional 740 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Grid Dynamics by 68.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Quarry LP lifted its position in 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 acquiring an additional 2,974 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC boosted 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Grid Dynamics has an average rating of "Buy" and a consensus price target of $19.60.

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Insider Activity

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the business's 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares of the company's stock, valued at $8,214,979.08. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock valued at $376,590 in the last three months. Company insiders own 7.20% of the company's stock.

Grid Dynamics Stock Down 2.9 %

Grid Dynamics stock traded down $0.48 during mid-day trading on Friday, reaching $15.81. 538,078 shares of the company's stock were exchanged, compared to its average volume of 584,508. The firm has a market capitalization of $1.33 billion, a PE ratio of 395.25 and a beta of 1.10. The business's fifty day simple moving average is $19.95 and its 200 day simple moving average is $18.35. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50.

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

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.