New York State Common Retirement Fund raised its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 34.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,136 shares of the company's stock after purchasing an additional 30,463 shares during the period. New York State Common Retirement Fund owned 0.14% of Grid Dynamics worth $1,880,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GDYN. Coppell Advisory Solutions LLC purchased a new position in shares of Grid Dynamics in the fourth quarter valued at $25,000. USA Financial Formulas purchased a new position in shares of Grid Dynamics in the first quarter valued at $42,000. Johnson Financial Group Inc. acquired a new stake in Grid Dynamics in the fourth quarter valued at $70,000. Cetera Investment Advisers acquired a new stake in shares of Grid Dynamics during the fourth quarter worth $200,000. Finally, Pictet Asset Management Holding SA bought a new position in Grid Dynamics in the 4th quarter valued at about $208,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GDYN. Needham & Company LLC raised their price objective on shares of 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 lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Grid Dynamics currently has an average rating of "Buy" and a consensus target price of $18.75.
Check Out Our Latest Research Report on Grid Dynamics
Insider Activity
In related news, COO Yury Gryzlov sold 2,000 shares of the firm'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 completion of the transaction, the chief operating officer directly owned 474,269 shares of the company's stock, valued at $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 6,737 shares of company stock valued at $84,251 in the last 90 days. Company insiders own 7.20% of the company's stock.
Grid Dynamics Price Performance
GDYN traded up $0.08 during midday trading on Friday, hitting $10.46. 1,000,149 shares of the company's stock traded hands, compared to its average volume of 725,020. The company has a market cap of $884.39 million, a PE ratio of 87.17 and a beta of 1.04. The stock's fifty day simple moving average is $11.86 and its 200-day simple moving average is $15.64. Grid Dynamics Holdings, Inc. has a one year low of $10.26 and a one year high of $25.50.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $98.19 million. During the same quarter last year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.
About Grid Dynamics
(
Free Report)
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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