Envestnet Asset Management Inc. Buys 35,481 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Envestnet Asset Management Inc. grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) by 30.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,060 shares of the company’s stock after acquiring an additional 35,481 shares during the period. Envestnet Asset Management Inc. owned 0.23% of Grid Dynamics worth $2,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GDYN. Wasatch Advisors Inc. grew its stake in Grid Dynamics by 101.7% in the 1st quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock worth $72,215,000 after acquiring an additional 2,585,803 shares in the last quarter. Toronado Partners LLC grew its stake in Grid Dynamics by 166.5% in the 1st quarter. Toronado Partners LLC now owns 2,117,679 shares of the company’s stock worth $29,817,000 after acquiring an additional 1,323,046 shares in the last quarter. Next Century Growth Investors LLC grew its stake in Grid Dynamics by 107.2% in the 1st quarter. Next Century Growth Investors LLC now owns 1,349,807 shares of the company’s stock worth $19,005,000 after acquiring an additional 698,500 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Grid Dynamics by 31.2% in the 2nd quarter. Jennison Associates LLC now owns 2,097,627 shares of the company’s stock worth $35,282,000 after purchasing an additional 499,263 shares during the period. Finally, Nicholas Company Inc. lifted its position in shares of Grid Dynamics by 1,121.1% in the 2nd quarter. Nicholas Company Inc. now owns 278,225 shares of the company’s stock worth $4,680,000 after purchasing an additional 255,441 shares during the period. 66.15% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Down 4.8 %

GDYN opened at $12.76 on Thursday. The company has a market cap of $944.23 million, a price-to-earnings ratio of -32.72 and a beta of 0.82. Grid Dynamics Holdings, Inc. has a 52-week low of $9.09 and a 52-week high of $42.81. The firm’s fifty day simple moving average is $15.75 and its two-hundred day simple moving average is $17.28.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GDYN shares. Needham & Company LLC lowered their price target on shares of Grid Dynamics from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Grid Dynamics from $27.00 to $22.00 in a research report on Friday, October 14th. Finally, Citigroup lowered their price target on shares of Grid Dynamics from $27.00 to $18.00 in a research report on Friday, November 4th.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, insider Stan Klimoff sold 12,000 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $16.92, for a total transaction of $203,040.00. Following the transaction, the insider now directly owns 260,173 shares of the company’s stock, valued at $4,402,127.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.80% of the company’s stock.

Grid Dynamics Company Profile

(Get Rating)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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