Envestnet Asset Management Inc. Lowers Stock Holdings in Grid Dynamics Holdings, Inc. $GDYN

Envestnet Asset Management Inc. reduced its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 44.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,722 shares of the company’s stock after selling 84,803 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Grid Dynamics worth $815,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in Grid Dynamics in the 2nd quarter worth approximately $43,000. Tower Research Capital LLC TRC raised its stake in shares of Grid Dynamics by 208.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock worth $72,000 after acquiring an additional 4,197 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Grid Dynamics in the 2nd quarter worth approximately $117,000. Shay Capital LLC purchased a new stake in shares of Grid Dynamics in the 2nd quarter valued at $150,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Grid Dynamics by 13.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,833 shares of the company’s stock valued at $171,000 after purchasing an additional 1,802 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total transaction 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. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDYN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Grid Dynamics Trading Up 1.3%

GDYN stock opened at $7.20 on Thursday. The stock has a market capitalization of $610.34 million, a price-to-earnings ratio of 48.00 and a beta of 0.84. The firm’s 50-day moving average price is $8.07 and its two-hundred day moving average price is $8.27. Grid Dynamics Holdings, Inc. has a 12-month low of $6.11 and a 12-month high of $19.49.

About Grid Dynamics

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.