Public Employees Retirement System of Ohio Has $4.30 Million Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,422 shares of the company's stock after selling 66,345 shares during the quarter. Public Employees Retirement System of Ohio owned 0.23% of Grid Dynamics worth $4,302,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at $55,114,000. Vanguard Group Inc. raised its holdings in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after acquiring an additional 1,171,481 shares during the period. Focus Partners Wealth purchased a new stake in shares of Grid Dynamics in the 4th quarter valued at approximately $23,053,000. William Blair Investment Management LLC acquired a new position in Grid Dynamics in the 4th quarter worth approximately $22,192,000. Finally, Ensign Peak Advisors Inc purchased a new position in Grid Dynamics during the 4th quarter worth approximately $20,162,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GDYN shares. Wall Street Zen lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday. Needham & Company LLC increased their price objective on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One 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 stock. According to MarketBeat, Grid Dynamics currently has an average rating of "Buy" and a consensus target price of $18.75.

Grid Dynamics Stock Performance

NASDAQ GDYN traded up $0.17 during trading on Tuesday, reaching $12.17. 53,870 shares of the company traded hands, compared to its average volume of 638,030. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 304.25 and a beta of 1.13. The stock's 50 day moving average price is $13.84 and its two-hundred day moving average price is $17.85.

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 negative return on equity of 0.33% and a net margin of 1.15%. 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. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $26,440.00. Following the transaction, the chief operating officer now directly owns 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 is accessible through this hyperlink. In the last ninety days, insiders sold 8,737 shares of company stock valued at $135,028. Company insiders own 7.20% of the company's stock.

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.