Mutual of America Capital Management LLC Grows Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mutual of America Capital Management LLC lifted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 89.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,944 shares of the company's stock after purchasing an additional 164,206 shares during the period. Mutual of America Capital Management LLC owned 0.42% of Grid Dynamics worth $7,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock valued at $40,037,000 after acquiring an additional 675,419 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Grid Dynamics during the 3rd quarter valued at about $8,589,000. Principal Financial Group Inc. lifted its holdings in shares of Grid Dynamics by 1,540.0% during the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock valued at $7,041,000 after purchasing an additional 297,296 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock valued at $8,500,000 after purchasing an additional 186,661 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Grid Dynamics during the 4th quarter valued at about $2,026,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, February 7th. The stock was 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 owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 8,000 shares of company stock valued at $171,780 over the last ninety days. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $19.17.

Grid Dynamics Price Performance

Shares of GDYN stock traded down $0.23 on Monday, hitting $18.59. 1,024,705 shares of the company's stock were exchanged, compared to its average volume of 803,826. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a market cap of $1.53 billion, a P/E ratio of 464.75 and a beta of 1.01. The company has a 50 day moving average of $21.61 and a 200 day moving average of $17.91.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $96.00 million. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS 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.