State of Wyoming Acquires 1,046 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

State of Wyoming increased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,495 shares of the company’s stock after purchasing an additional 1,046 shares during the period. State of Wyoming’s holdings in Grid Dynamics were worth $589,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GDYN. Coppell Advisory Solutions LLC bought a new stake in Grid Dynamics in the fourth quarter worth $25,000. Global Retirement Partners LLC bought a new stake in Grid Dynamics in the fourth quarter worth $27,000. MCF Advisors LLC boosted 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 worth $41,000 after purchasing an additional 740 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Grid Dynamics during the fourth quarter valued at about $70,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock valued at $71,000 after acquiring an additional 1,282 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $13.97 on Monday. The firm has a 50-day simple moving average of $14.65 and a 200 day simple moving average of $18.18. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The stock has a market cap of $1.17 billion, a PE ratio of 349.25 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share 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 business had revenue of $100.42 million during the quarter, compared to analysts’ expectations of $98.19 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 2,000 shares of the 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 completion of the sale, the chief operating officer now owns 474,269 shares in the company, valued at approximately $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 19,043 shares of company stock worth $327,338. Company insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their price target on shares of 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Grid Dynamics has a consensus rating of “Buy” and an average price target of $17.60.

Grid Dynamics 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.