Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 147.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,246 shares of the company’s stock after buying an additional 9,081 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grid Dynamics were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 113.9% during the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock worth $18,058,000 after purchasing an additional 789,373 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Grid Dynamics by 5.8% during the third quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company’s stock valued at $3,308,000 after purchasing an additional 14,940 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Grid Dynamics by 41.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company’s stock worth $2,789,000 after buying an additional 60,906 shares in the last quarter. Barclays PLC increased its holdings in shares of Grid Dynamics by 8.5% in the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares during the last quarter. Finally, S Squared Technology LLC raised its position in shares of Grid Dynamics by 13.5% during the 3rd quarter. S Squared Technology LLC now owns 229,781 shares of the company’s stock valued at $2,799,000 after buying an additional 27,257 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the completion of the sale, the chief financial officer now owns 385,979 shares of the company’s stock, valued at approximately $3,859,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 385,979 shares of the company’s stock, valued at approximately $3,859,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the completion of the sale, the chief executive officer now owns 3,513,456 shares in the company, valued at $45,956,004.48. The disclosure for this sale can be found here. Insiders have sold a total of 88,884 shares of company stock valued at $1,099,255 over the last three months. 7.40% of the stock is owned by company insiders.

Grid Dynamics Stock Up 2.4 %

NASDAQ GDYN opened at $10.87 on Wednesday. The company has a 50-day simple moving average of $11.68 and a two-hundred day simple moving average of $12.33. Grid Dynamics Holdings, Inc. has a 12-month low of $8.05 and a 12-month high of $14.70. The firm has a market cap of $825.79 million, a price-to-earnings ratio of 362.45 and a beta of 1.00.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $76.64 million. Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. Equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd. Cantor Fitzgerald raised their price objective on Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Finally, Citigroup cut 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. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $15.75.

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.