Oregon Public Employees Retirement Fund Makes New Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Oregon Public Employees Retirement Fund purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 14,500 shares of the company's stock, valued at approximately $322,000.

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

Grid Dynamics Stock Performance

Shares of NASDAQ GDYN traded down $0.23 during midday trading on Monday, reaching $18.59. The stock had a trading volume of 1,024,705 shares, compared to its average volume of 803,826. The company's 50 day moving average price is $21.61 and its 200 day moving average price is $17.91. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 464.75 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) 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 firm had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the transaction, the chief financial officer now directly owns 373,282 shares of the company's stock, valued at approximately $7,122,220.56. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 8,000 shares of company stock worth $171,780 in the last 90 days. Corporate insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their price target on shares of 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $19.17.

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.