Envestnet Asset Management Inc. Has $4.73 Million Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Envestnet Asset Management Inc. increased its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,864 shares of the company’s stock after acquiring an additional 28,505 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Grid Dynamics worth $4,734,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Grid Dynamics in the fourth quarter valued at $27,000. FMR LLC increased its position in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares in the last quarter. MCF Advisors LLC boosted its holdings in Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Grid Dynamics by 68.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock valued at $71,000 after acquiring an additional 1,282 shares during the period. Finally, Atria Investments Inc bought a new stake in shares of Grid Dynamics during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.60.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $13.97, for a total transaction of $27,940.00. Following the transaction, the chief operating officer now owns 476,269 shares of the company’s stock, valued at $6,653,477.93. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 19,043 shares of company stock worth $349,078. 7.20% of the stock is owned by insiders.

Grid Dynamics Stock Up 0.8 %

Shares of Grid Dynamics stock opened at $13.08 on Wednesday. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50. The business has a 50 day moving average price of $16.71 and a 200-day moving average price of $18.32. The company has a market cap of $1.10 billion, a PE ratio of 327.00 and a beta of 0.99.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. As a group, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.