Arizona State Retirement System Acquires 1,260 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Arizona State Retirement System boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,785 shares of the company’s stock after purchasing an additional 1,260 shares during the period. Arizona State Retirement System’s holdings in Grid Dynamics were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GDYN. Proficio Capital Partners LLC bought a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $796,000. Atria Investments Inc purchased a new position in Grid Dynamics during the fourth quarter valued at approximately $208,000. Cornerstone Investment Partners LLC purchased a new position in Grid Dynamics during the fourth quarter valued at approximately $252,000. Charles Schwab Investment Management Inc. grew its stake in Grid Dynamics by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company’s stock valued at $11,244,000 after acquiring an additional 41,390 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Grid Dynamics by 89.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 347,944 shares of the company’s stock worth $7,738,000 after buying an additional 164,206 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

GDYN stock opened at $16.82 on Friday. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The stock has a market cap of $1.41 billion, a PE ratio of 420.50 and a beta of 1.10. The firm has a 50 day simple moving average of $20.84 and a two-hundred day simple moving average of $18.16.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity

In related news, CFO Anil Doradla sold 2,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares in the company, valued at $8,214,979.08. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Yury Gryzlov sold 10,306 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares of the company’s stock, valued at $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,306 shares of company stock valued at $376,590. Corporate insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grid Dynamics currently has a consensus rating of “Buy” and a consensus price target of $19.60.

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.