91,086 Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 91,086 shares of the company's stock, valued at approximately $2,026,000. State of New Jersey Common Pension Fund D owned 0.11% of Grid Dynamics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GDYN. FMR LLC boosted its holdings in 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 purchasing an additional 801 shares in the last quarter. MCF Advisors LLC boosted its holdings in 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 purchasing an additional 740 shares in the last quarter. Quarry LP boosted its holdings in Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Grid Dynamics during the third quarter valued at approximately $122,000. Finally, Intech Investment Management LLC acquired a new stake in Grid Dynamics during the third quarter valued at approximately $153,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now owns 343,012 shares in the company, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 8,000 shares of company stock worth $171,780. Corporate insiders own 7.20% of the company's stock.

Grid Dynamics Stock Down 4.0 %

Shares of GDYN traded down $0.79 during mid-day trading on Thursday, hitting $19.11. 981,421 shares of the company's stock were exchanged, compared to its average volume of 794,087. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50. The stock's 50-day simple moving average is $21.67 and its 200-day simple moving average is $17.79. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 477.75 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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%. Analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDYN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. TD Cowen upped their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.