California State Teachers Retirement System Buys 2,820 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

California State Teachers Retirement System increased its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,063 shares of the company’s stock after purchasing an additional 2,820 shares during the period. California State Teachers Retirement System owned 0.07% of Grid Dynamics worth $1,269,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GDYN. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics during the 4th quarter worth $25,000. Global Retirement Partners LLC acquired a new stake in Grid Dynamics during the 4th quarter worth $27,000. Johnson Financial Group Inc. acquired a new stake in Grid Dynamics during the 4th quarter worth $70,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock worth $71,000 after acquiring an additional 1,282 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Grid Dynamics during the 4th quarter worth $200,000. Institutional investors own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

GDYN has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of Grid Dynamics from a “buy” rating to a “hold” rating in a report on Friday, May 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.75.

Grid Dynamics Stock Down 0.1%

Shares of GDYN stock opened at $12.14 on Tuesday. Grid Dynamics Holdings, Inc. has a 12-month low of $9.11 and a 12-month high of $25.50. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 303.50 and a beta of 1.07. The firm has a fifty day moving average of $13.47 and a 200-day moving average of $17.68.

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

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the transaction, the chief operating officer now directly owns 474,269 shares of the company’s stock, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 4,737 shares of company stock valued at $65,288. Company insiders own 7.20% of the company’s stock.

Grid Dynamics Company 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.