Mutual of America Capital Management LLC Raises Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mutual of America Capital Management LLC grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,208 shares of the company’s stock after purchasing an additional 60,906 shares during the period. Mutual of America Capital Management LLC owned approximately 0.28% of Grid Dynamics worth $2,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC increased its holdings in shares of Grid Dynamics by 4.2% in the first quarter. HighTower Advisors LLC now owns 16,568 shares of the company’s stock valued at $225,000 after purchasing an additional 671 shares during the period. Arizona State Retirement System increased its holdings in shares of Grid Dynamics by 5.3% in the fourth quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after purchasing an additional 855 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Grid Dynamics by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 32,600 shares of the company’s stock valued at $610,000 after purchasing an additional 995 shares during the period. Amalgamated Bank increased its holdings in shares of Grid Dynamics by 14.2% in the fourth quarter. Amalgamated Bank now owns 8,937 shares of the company’s stock valued at $100,000 after purchasing an additional 1,114 shares during the period. Finally, American Trust increased its holdings in shares of Grid Dynamics by 10.1% in the third quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after purchasing an additional 1,186 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $10.23 on Friday. The business’s fifty day moving average price is $12.56 and its 200 day moving average price is $12.51. Grid Dynamics Holdings, Inc. has a 1-year low of $8.00 and a 1-year high of $14.70. The firm has a market capitalization of $777.17 million, a PE ratio of -340.89 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total value of $178,050.00. Following the sale, the chief executive officer now owns 3,670,691 shares of the company’s stock, valued at $43,571,102.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $11.87, for a total value of $178,050.00. Following the completion of the sale, the chief executive officer now owns 3,670,691 shares in the company, valued at $43,571,102.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,884 shares of company stock valued at $1,159,755. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

GDYN has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Cantor Fitzgerald upped their price objective on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Finally, Citigroup upped their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.25.

Grid Dynamics Company 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.