Envestnet Asset Management Inc. Sells 84,803 Shares of Grid Dynamics Holdings, Inc. $GDYN

Envestnet Asset Management Inc. cut its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 44.5% in the 3rd quarter, Holdings Channel reports. The firm owned 105,722 shares of the company’s stock after selling 84,803 shares during the period. Envestnet Asset Management Inc.’s holdings in Grid Dynamics were worth $815,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GDYN. Amundi purchased a new position in shares of Grid Dynamics during the first quarter valued at about $252,000. AQR Capital Management LLC boosted its position in Grid Dynamics by 32.4% during the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after acquiring an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock valued at $573,000 after acquiring an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after acquiring an additional 35,204 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Grid Dynamics by 35.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock valued at $2,546,000 after purchasing an additional 42,801 shares during the period. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Stock Up 1.3%

Grid Dynamics stock opened at $7.20 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $6.11 and a twelve month high of $19.49. The company has a market capitalization of $610.34 million, a P/E ratio of 48.00 and a beta of 0.84. The stock’s 50 day moving average is $8.07 and its 200 day moving average is $8.27.

Analysts Set New Price Targets

Several research firms recently weighed in on GDYN. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. JPMorgan Chase & Co. dropped their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 4,368 shares of Grid Dynamics stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the transaction, the chief financial officer owned 344,852 shares of the company’s stock, valued at $3,448,520. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is owned by insiders.

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.