State of Alaska Department of Revenue Acquires New Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

State of Alaska Department of Revenue bought a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,878 shares of the company’s stock, valued at approximately $775,000.

Several other large investors also recently bought and sold shares of the company. FMR LLC lifted its stake in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares during the last quarter. Quarry LP lifted its position in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the third quarter valued at $122,000. Finally, Intech Investment Management LLC purchased a new stake in Grid Dynamics during the 3rd quarter worth about $153,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, TD Cowen increased their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grid Dynamics presently has a consensus rating of “Buy” and a consensus price target of $18.33.

Grid Dynamics Stock Performance

GDYN opened at $22.52 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $24.60. The company’s 50 day simple moving average is $21.36 and its 200 day simple moving average is $17.26. The stock has a market capitalization of $1.86 billion, a PE ratio of 750.92 and a beta of 1.01.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the transaction, the chief financial officer now owns 373,282 shares in the company, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $171,780 in the last quarter. 7.20% of the stock is owned by insiders.

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.