Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Position Lifted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 41.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,208 shares of the company’s stock after buying an additional 60,906 shares during the period. Mutual of America Capital Management LLC’s holdings in Grid Dynamics were worth $2,789,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GDYN. JPMorgan Chase & Co. lifted its holdings in shares of Grid Dynamics by 161.0% in the 1st quarter. JPMorgan Chase & Co. now owns 175,617 shares of the company’s stock worth $2,473,000 after purchasing an additional 108,330 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Grid Dynamics by 4.2% in the 1st quarter. HighTower Advisors LLC now owns 16,568 shares of the company’s stock worth $225,000 after purchasing an additional 671 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Grid Dynamics by 239.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after purchasing an additional 4,115 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Grid Dynamics by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 23,054 shares of the company’s stock worth $325,000 after purchasing an additional 8,370 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Grid Dynamics in the 1st quarter worth approximately $642,000. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GDYN. Cantor Fitzgerald raised their price target on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Citigroup raised their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.25.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $10.23 on Friday. The business’s fifty day moving average price is $12.56 and its two-hundred day moving average price is $12.51. The company has a market capitalization of $777.17 million, a P/E ratio of -340.89 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1-year low of $8.00 and a 1-year high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The firm had revenue of $78.07 million for the quarter, compared to analyst estimates of $76.64 million. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.06, for a total value of $195,900.00. Following the transaction, the chief executive officer now directly owns 2,275,442 shares in the company, valued at approximately $29,717,272.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.06, for a total value of $195,900.00. Following the transaction, the chief executive officer now directly owns 2,275,442 shares in the company, valued at approximately $29,717,272.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the transaction, the chief financial officer now owns 395,568 shares in the company, valued at $5,245,231.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,884 shares of company stock worth $1,159,755. 7.40% of the stock is owned by company 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.