Maryland State Retirement & Pension System Purchases New Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Maryland State Retirement & Pension System acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 4th quarter, HoldingsChannel reports. The fund acquired 20,804 shares of the company’s stock, valued at approximately $463,000.

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $27,000. FMR LLC lifted its holdings in Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares in the last quarter. MCF Advisors LLC grew its stake in Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Grid Dynamics by 68.4% during the fourth 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 period. Finally, Quarry LP raised its stake in shares of 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 acquiring an additional 2,974 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the transaction, the chief financial officer now owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction 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. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is owned by insiders.

Grid Dynamics Trading Down 0.1 %

Shares of NASDAQ:GDYN opened at $16.68 on Wednesday. The company has a market capitalization of $1.40 billion, a PE ratio of 417.00 and a beta of 1.10. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The business’s fifty day simple moving average is $20.23 and its 200-day simple moving average is $18.34.

Grid Dynamics (NASDAQ:GDYN) last posted 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 company had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their price target on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Buy” and an average target price of $19.60.

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.