Mutual of America Capital Management LLC Has $2.57 Million Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mutual of America Capital Management LLC decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,738 shares of the company’s stock after selling 1,724 shares during the period. Mutual of America Capital Management LLC owned about 0.24% of Grid Dynamics worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Grid Dynamics in the first quarter valued at about $124,000. Hsbc Holdings PLC acquired a new position in Grid Dynamics during the 2nd quarter worth about $117,000. XTX Topco Ltd acquired a new position in Grid Dynamics during the 2nd quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Grid Dynamics during the 2nd quarter worth about $141,000. Institutional investors own 71.18% of the company’s stock.

Insider Activity

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The trade was a 6.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the sale, the chief financial officer now owns 380,282 shares in the company, valued at $6,715,780.12. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 950,387 shares of company stock valued at $12,239,324 in the last quarter. Company insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their target price on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, TD Cowen lifted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five equities research 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, the company presently has an average rating of “Buy” and a consensus target price of $17.50.

Grid Dynamics Trading Up 3.1 %

NASDAQ GDYN opened at $18.26 on Friday. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $19.86. The company has a market capitalization of $1.51 billion, a PE ratio of 608.67 and a beta of 1.04. The stock has a 50-day simple moving average of $15.48 and a 200 day simple moving average of $12.96.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. Grid Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS.

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.