Louisiana State Employees Retirement System Takes $455,000 Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Louisiana State Employees Retirement System acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,100 shares of the company's stock, valued at approximately $455,000.

A number of other institutional investors and hedge funds have also modified their holdings of GDYN. Proficio Capital Partners LLC bought a new stake in shares of Grid Dynamics during the fourth quarter valued at approximately $796,000. Raymond James Financial Inc. bought a new stake in Grid Dynamics in the fourth quarter valued at $4,406,000. HighTower Advisors LLC grew its position in Grid Dynamics by 20.6% in the fourth quarter. HighTower Advisors LLC now owns 14,525 shares of the company's stock valued at $323,000 after acquiring an additional 2,477 shares during the period. Swiss National Bank grew its position in Grid Dynamics by 7.8% in the fourth quarter. Swiss National Bank now owns 120,600 shares of the company's stock valued at $2,682,000 after acquiring an additional 8,700 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in Grid Dynamics in the fourth quarter valued at $1,061,000. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

Grid Dynamics stock traded down $0.41 on Thursday, reaching $10.38. The company's stock had a trading volume of 861,969 shares, compared to its average volume of 703,738. The company has a market cap of $877.63 million, a price-to-earnings ratio of 86.51 and a beta of 1.04. The business's fifty day moving average price is $11.93 and its 200 day moving average price is $15.76. Grid Dynamics Holdings, Inc. has a twelve month low of $10.26 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The business's revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDYN. Needham & Company LLC upped their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Grid Dynamics currently has a consensus rating of "Buy" and a consensus target price of $18.75.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer owned 474,269 shares of the company's stock, valued at approximately $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,737 shares of company stock valued at $84,251 over the last quarter. 7.20% of the stock is currently owned by 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.