Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,379 shares of the company’s stock after purchasing an additional 5,328 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of Grid Dynamics worth $1,125,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GDYN. International Assets Investment Management LLC acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $26,000. American Trust grew its position in 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 acquiring an additional 1,186 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Grid Dynamics by 147.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock valued at $203,000 after purchasing an additional 9,081 shares during the period. Olympiad Research LP acquired a new position in shares of Grid Dynamics during the fourth quarter worth $211,000. Finally, Arizona State Retirement System boosted its stake 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. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Up 2.9 %

NASDAQ:GDYN opened at $10.19 on Monday. Grid Dynamics Holdings, Inc. has a 52 week low of $8.76 and a 52 week high of $14.70. The company has a market cap of $779.74 million, a PE ratio of 339.78 and a beta of 1.02. The business’s 50 day moving average is $10.03 and its two-hundred day moving average is $11.93.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The business had revenue of $79.82 million during the quarter, compared to analyst estimates of $77.48 million. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total transaction of $178,050.00. Following the completion of the transaction, the chief executive officer now directly 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 related news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were 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 approximately $43,571,102.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the transaction, the chief financial officer now directly owns 385,979 shares of the company’s stock, valued at $3,859,790. The disclosure for this sale can be found here. Insiders have sold a total of 76,884 shares of company stock worth $824,175 over the last quarter. 7.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GDYN has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Grid Dynamics in a research note on Friday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Grid Dynamics in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price objective on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Cantor Fitzgerald lifted 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 reduced their target price on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.20.

Grid Dynamics 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.