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 stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 4th quarter, Holdings Channel reports. The fund bought 225,360 shares of the company’s stock, valued at approximately $5,012,000.

Other hedge funds have also recently made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new position in shares of Grid Dynamics during the third quarter valued at approximately $8,589,000. SG Americas Securities LLC purchased a new position in shares of Grid Dynamics during the fourth quarter valued at approximately $242,000. Barclays PLC grew its stake in Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after purchasing an additional 70,579 shares during the period. Wellington Management Group LLP grew its stake in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the period. Finally, Geode Capital Management LLC grew its stake in Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after purchasing an additional 17,763 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Needham & Company LLC upped their price target on 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $19.60.

Grid Dynamics Trading Down 0.6 %

Grid Dynamics stock opened at $16.26 on Friday. The business’s fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $18.27. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 406.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last released 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). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. On average, equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now directly owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total value of $33,540.00. Following the transaction, the chief operating officer now directly owns 480,759 shares in the company, valued at approximately $8,062,328.43. The trade was a 0.41 % decrease in their ownership of the stock. 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. 7.20% of the stock is currently owned by corporate insiders.

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.