Bastion Asset Management Inc. Takes $816,000 Position in Grid Dynamics Holdings, Inc. $GDYN

Bastion Asset Management Inc. bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 106,274 shares of the company’s stock, valued at approximately $816,000. Bastion Asset Management Inc. owned 0.13% of Grid Dynamics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in shares of Grid Dynamics by 123.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after acquiring an additional 1,049,519 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Grid Dynamics by 1,378.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 726,862 shares of the company’s stock worth $8,395,000 after purchasing an additional 677,688 shares during the period. Fourth Sail Capital LP boosted its position in Grid Dynamics by 58.5% during the second quarter. Fourth Sail Capital LP now owns 1,623,562 shares of the company’s stock worth $18,752,000 after purchasing an additional 599,293 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Grid Dynamics by 271.1% in the third quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company’s stock valued at $3,960,000 after purchasing an additional 375,254 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Grid Dynamics in the second quarter valued at approximately $2,565,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $10.00, for a total transaction of $43,680.00. Following the completion of the sale, the chief financial officer owned 344,852 shares in the company, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GDYN has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research note on Wednesday, December 24th. Finally, Needham & Company LLC lowered their price objective on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.33.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $6.58 on Monday. Grid Dynamics Holdings, Inc. has a 1-year low of $6.16 and a 1-year high of $25.50. The stock has a market cap of $557.79 million, a P/E ratio of 43.87 and a beta of 0.82. The stock’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $8.39.

Grid Dynamics Company Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.