106,274 Shares in Grid Dynamics Holdings, Inc. $GDYN Purchased by Bastion Asset Management Inc.

Bastion Asset Management Inc. bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the third quarter, Holdings Channel.com reports. The institutional investor bought 106,274 shares of the company’s stock, valued at approximately $816,000.

Several other hedge funds also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Grid Dynamics in the 3rd quarter worth approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics in the 2nd quarter valued at $43,000. Tower Research Capital LLC TRC lifted its stake in Grid Dynamics by 208.2% during the 2nd 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 purchased a new position in Grid Dynamics during the 2nd quarter valued at about $117,000. Finally, Shay Capital LLC acquired a new position in Grid Dynamics in the 2nd quarter valued at about $150,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 4,368 shares of the business’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 sale, the chief financial officer owned 344,852 shares in the company, valued at $3,448,520. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.50% of the company’s stock.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $6.58 on Monday. The stock has a market cap of $557.79 million, a PE ratio of 43.87 and a beta of 0.82. The stock’s fifty day moving average is $8.80 and its two-hundred day moving average is $8.39. Grid Dynamics Holdings, Inc. has a 1-year low of $6.16 and a 1-year high of $25.50.

Wall Street Analyst Weigh In

Several research firms have recently commented on GDYN. Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Three 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.33.

Grid Dynamics 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.