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

Public Employees Retirement System of Ohio trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,422 shares of the company's stock after selling 66,345 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.23% of Grid Dynamics worth $4,302,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GDYN. Loomis Sayles & Co. L P purchased a new stake in Grid Dynamics during the 4th quarter worth approximately $55,114,000. Vanguard Group Inc. grew its position 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 worth $123,110,000 after buying an additional 1,171,481 shares in the last quarter. Focus Partners Wealth acquired a new stake in Grid Dynamics in the fourth quarter valued at $23,053,000. William Blair Investment Management LLC bought a new position in Grid Dynamics during the 4th quarter valued at $22,192,000. Finally, Ensign Peak Advisors Inc acquired a new position in Grid Dynamics during the 4th quarter worth $20,162,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock 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 note on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $18.75.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN traded up $0.24 during mid-day trading on Tuesday, hitting $12.24. The company had a trading volume of 457,840 shares, compared to its average volume of 640,897. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 306.00 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The firm's 50 day simple moving average is $13.76 and its two-hundred day simple moving average is $17.81.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. During the same period in the previous year, the business posted $0.10 EPS. Grid Dynamics's revenue was up 25.8% on a year-over-year basis. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total value of $33,540.00. Following the transaction, the chief operating officer now owns 480,759 shares of the company's stock, valued at approximately $8,062,328.43. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,737 shares of company stock worth $135,028 over the last 90 days. 7.20% of the stock is currently owned by company 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.