Louisiana State Employees Retirement System Makes New Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Louisiana State Employees Retirement System bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 29,100 shares of the company's stock, valued at approximately $455,000.

Other large investors also recently made changes to their positions in the company. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics during the fourth quarter valued at approximately $25,000. USA Financial Formulas acquired a new stake in shares of Grid Dynamics during the 1st quarter valued at $42,000. Johnson Financial Group Inc. purchased a new position in shares of Grid Dynamics during the 4th quarter valued at $70,000. Cetera Investment Advisers purchased a new position in shares of Grid Dynamics during the 4th quarter valued at $200,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Grid Dynamics in the fourth quarter worth $208,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC lifted their price objective 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 downgraded Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $18.75.

Insider Buying and Selling

In other news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the sale, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was a 0.42% 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 sold a total of 6,737 shares of company stock worth $84,251 in the last 90 days. Company insiders own 7.20% of the company's stock.

Grid Dynamics Trading Down 1.9%

GDYN stock opened at $10.50 on Monday. The firm has a market cap of $887.78 million, a PE ratio of 87.51 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 1 year low of $10.26 and a 1 year high of $25.50. The company has a fifty day simple moving average of $12.26 and a 200 day simple moving average of $15.99.

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

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.

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