Zurcher Kantonalbank Zurich Cantonalbank Acquires 9,081 Shares of 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 its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,246 shares of the company’s stock after purchasing an additional 9,081 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grid Dynamics were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDYN. Mutual of America Capital Management LLC lifted its stake in shares of Grid Dynamics by 41.1% during 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 during the last quarter. International Assets Investment Management LLC bought a new position in Grid Dynamics in the 4th quarter valued at about $26,000. Arizona State Retirement System lifted its position in Grid Dynamics by 5.3% during the fourth quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock worth $225,000 after acquiring an additional 855 shares during the last quarter. Trust Point Inc. bought a new stake in shares of Grid Dynamics during the fourth quarter worth approximately $317,000. Finally, SG Americas Securities LLC grew its position in shares of Grid Dynamics by 52.4% in the fourth quarter. SG Americas Securities LLC now owns 17,723 shares of the company’s stock valued at $236,000 after purchasing an additional 6,094 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GDYN has been the subject of several research reports. Cantor Fitzgerald lifted 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. JPMorgan Chase & Co. reduced 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 reaffirmed a “buy” rating and set a $16.00 price target on shares of Grid Dynamics in a research report on Friday, May 3rd. Finally, Citigroup dropped their price objective on shares of 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average price target of $15.75.

Insider Buying and Selling at Grid Dynamics

In other news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total value of $208,200.00. Following the transaction, the chief executive officer now owns 3,760,474 shares in the company, valued at approximately $52,195,379.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total value 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 $3,859,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $13.88, for a total transaction of $208,200.00. Following the sale, the chief executive officer now directly owns 3,760,474 shares in the company, valued at $52,195,379.12. The disclosure for this sale can be found here. Insiders sold a total of 88,884 shares of company stock worth $1,099,255 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Grid Dynamics Stock Performance

Shares of NASDAQ GDYN opened at $10.87 on Wednesday. The stock has a market capitalization of $825.79 million, a P/E ratio of 362.45 and a beta of 1.00. The stock’s fifty day moving average is $11.68 and its 200 day moving average is $12.33. Grid Dynamics Holdings, Inc. has a 52 week low of $8.05 and a 52 week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The firm had revenue of $78.07 million for the quarter, compared to analyst estimates of $76.64 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.07 earnings per share for the current year.

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.