Mutual of America Capital Management LLC Acquires 164,206 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mutual of America Capital Management LLC increased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 89.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 347,944 shares of the company’s stock after buying an additional 164,206 shares during the period. Mutual of America Capital Management LLC’s holdings in Grid Dynamics were worth $7,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $27,000. MCF Advisors LLC grew its holdings in shares of 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. FMR LLC grew its holdings in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. Quarry LP grew its holdings in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Grid Dynamics in the third quarter valued at approximately $122,000. 71.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC increased their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Grid Dynamics presently has an average rating of “Buy” and a consensus price target of $19.17.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now owns 341,012 shares in the company, valued at $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 8,000 shares of company stock worth $171,780 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Grid Dynamics Trading Down 1.5 %

Shares of NASDAQ GDYN opened at $18.82 on Monday. The stock has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $17.91. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 470.50 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Grid Dynamics Company 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.