Public Employees Retirement System of Ohio Reduces Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Public Employees Retirement System of Ohio lowered its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 25.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 193,422 shares of the company’s stock after selling 66,345 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.23% of Grid Dynamics worth $4,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming grew its stake in Grid Dynamics by 4.1% during the 4th quarter. State of Wyoming now owns 26,495 shares of the company’s stock worth $589,000 after buying an additional 1,046 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics during the 4th quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Grid Dynamics by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company’s stock worth $722,000 after buying an additional 1,106 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Grid Dynamics during the 4th quarter worth approximately $27,000. Finally, Arizona State Retirement System grew its stake in Grid Dynamics by 7.6% during the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock worth $396,000 after buying an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.75.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the transaction, the chief financial officer now directly owns 366,818 shares of the company’s stock, valued at approximately $6,639,405.80. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,043 shares of company stock worth $327,338 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Trading Up 0.6%

NASDAQ:GDYN opened at $12.70 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 317.50 and a beta of 1.13. The stock’s 50 day simple moving average is $14.01 and its 200-day simple moving average is $17.92. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.42 million for the quarter, compared to the consensus estimate of $98.19 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.