New York State Teachers Retirement System Takes $295,000 Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

New York State Teachers Retirement System acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,247 shares of the company’s stock, valued at approximately $295,000.

Other large investors also recently made changes to their positions in the company. MCF Advisors LLC boosted its holdings in shares of Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after buying an additional 740 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 during the last quarter. Quarry LP boosted its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after buying an additional 2,974 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $122,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at approximately $222,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, February 7th. The stock was 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 owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 8,000 shares of company stock valued at $171,780. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Price Performance

GDYN stock opened at $19.90 on Tuesday. 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 $1.64 billion, a price-to-earnings ratio of 497.50 and a beta of 1.01. The company has a fifty day moving average price of $21.65 and a two-hundred day moving average price of $17.72.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. Research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GDYN shares. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen lifted their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.17.

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.