State Board of Administration of Florida Retirement System Purchases New Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

State Board of Administration of Florida Retirement System purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,678 shares of the company’s stock, valued at approximately $213,000.

Several other large investors have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in Grid Dynamics in the 2nd quarter valued at about $1,025,000. Jackson Creek Investment Advisors LLC purchased a new position in Grid Dynamics in the second quarter worth $1,035,000. Envestnet Asset Management Inc. grew its position in Grid Dynamics by 30.4% in the second quarter. Envestnet Asset Management Inc. now owns 152,060 shares of the company’s stock worth $2,558,000 after acquiring an additional 35,481 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Grid Dynamics by 73.4% in the second quarter. Kornitzer Capital Management Inc. KS now owns 486,795 shares of the company’s stock worth $8,188,000 after purchasing an additional 206,085 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Grid Dynamics by 58.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock worth $35,000 after purchasing an additional 760 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

Insider Activity

In related news, insider Stan Klimoff sold 12,000 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $16.92, for a total transaction of $203,040.00. Following the transaction, the insider now owns 260,173 shares in the company, valued at $4,402,127.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.80% of the company’s stock.

Grid Dynamics Trading Down 2.7 %

Shares of NASDAQ:GDYN opened at $12.26 on Tuesday. The company has a market cap of $907.23 million, a price-to-earnings ratio of -31.44 and a beta of 0.82. The company has a 50-day moving average price of $15.32 and a 200-day moving average price of $17.25. Grid Dynamics Holdings, Inc. has a 12 month low of $9.09 and a 12 month high of $42.81.

Analysts Set New Price Targets

Several research firms have weighed in on GDYN. Citigroup lowered their price target on shares of Grid Dynamics from $27.00 to $18.00 in a research note on Friday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $27.00 to $22.00 in a research note on Friday, October 14th. Finally, Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, November 4th.

Grid Dynamics Company Profile

(Get Rating)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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