Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 324,145 shares of the company’s stock after buying an additional 7,544 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Grid Dynamics worth $5,073,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GDYN. Charles Schwab Investment Management Inc. boosted its stake in shares of Grid Dynamics by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company’s stock valued at $11,244,000 after buying an additional 41,390 shares during the period. Atria Investments Inc purchased a new position in Grid Dynamics in the fourth quarter valued at $208,000. Proficio Capital Partners LLC acquired a new stake in Grid Dynamics in the fourth quarter valued at $796,000. Raymond James Financial Inc. purchased a new stake in Grid Dynamics during the 4th quarter worth about $4,406,000. Finally, HighTower Advisors LLC lifted its stake in Grid Dynamics by 20.6% during the fourth quarter. HighTower Advisors LLC now owns 14,525 shares of the company’s stock worth $323,000 after purchasing an additional 2,477 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GDYN shares. Needham & Company LLC increased their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen raised Grid Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.75.

Grid Dynamics Trading Up 6.8%

NASDAQ GDYN opened at $11.01 on Thursday. The stock has a market capitalization of $930.90 million, a price-to-earnings ratio of 91.76 and a beta of 1.04. The business’s 50 day moving average is $12.40 and its two-hundred day moving average is $16.24. Grid Dynamics Holdings, Inc. has a 12-month low of $10.26 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,737 shares of company stock valued at $84,251 over the last ninety days. Insiders own 7.20% of the company’s stock.

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.