Envestnet Asset Management Inc. Buys 28,505 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Envestnet Asset Management Inc. grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,864 shares of the company's stock after purchasing an additional 28,505 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Grid Dynamics worth $4,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Grid Dynamics by 39.3% during the 4th quarter. Wells Fargo & Company MN now owns 32,533 shares of the company's stock valued at $724,000 after acquiring an additional 9,182 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new stake in shares of Grid Dynamics during the 4th quarter valued at about $440,000. Wisconsin Capital Management LLC acquired a new stake in shares of Grid Dynamics during the 4th quarter valued at about $222,000. Geode Capital Management LLC boosted its position in shares of Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after acquiring an additional 52,344 shares in the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Grid Dynamics during the 4th quarter valued at about $208,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $13.97, for a total value of $27,940.00. Following the completion of the transaction, the chief operating officer now directly owns 476,269 shares of the company's stock, valued at approximately $6,653,477.93. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 19,043 shares of company stock valued at $349,078. Insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their target price 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $19.60.

Grid Dynamics Trading Down 0.1 %

GDYN stock traded down $0.02 during trading on Monday, hitting $13.94. 436,849 shares of the stock traded hands, compared to its average volume of 611,515. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $25.50. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 348.50 and a beta of 0.99. The company has a 50 day simple moving average of $16.05 and a 200 day simple moving average of $18.33.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. As a group, analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.