Ensign Peak Advisors Inc Makes New $20.16 Million Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Ensign Peak Advisors Inc acquired a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 906,583 shares of the company’s stock, valued at approximately $20,162,000. Ensign Peak Advisors Inc owned 1.10% of Grid Dynamics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new position in shares of Grid Dynamics in the 4th quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new stake in shares of Grid Dynamics in the fourth quarter worth $27,000. MCF Advisors LLC raised its holdings in Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Grid Dynamics during the 4th quarter valued at $70,000. Finally, 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 in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC boosted their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average price target of $17.60.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $13.95 on Monday. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The stock has a market capitalization of $1.17 billion, a PE ratio of 348.75 and a beta of 1.13. The firm has a 50 day simple moving average of $14.98 and a 200-day simple moving average of $18.23.

Grid Dynamics (NASDAQ:GDYN) last issued 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 negative return on equity of 0.33% and a net margin of 1.15%. The company had revenue of $100.42 million for the quarter, compared to analysts’ expectations of $98.19 million. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. On average, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the transaction, the chief financial officer now owns 366,818 shares of the company’s stock, valued at $6,639,405.80. The trade was a 0.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by corporate insiders.

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.