Lazard Asset Management LLC Increases Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Lazard Asset Management LLC lifted its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) by 61.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,695 shares of the company’s stock after purchasing an additional 7,480 shares during the quarter. Lazard Asset Management LLC’s holdings in Grid Dynamics were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GDYN. Meeder Asset Management Inc. raised its position in Grid Dynamics by 120.8% during the first quarter. Meeder Asset Management Inc. now owns 2,422 shares of the company’s stock valued at $34,000 after acquiring an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Grid Dynamics by 58.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock valued at $35,000 after acquiring an additional 760 shares in the last quarter. AdvisorShares Investments LLC purchased a new position in Grid Dynamics during the second quarter valued at approximately $42,000. Prospera Financial Services Inc purchased a new position in Grid Dynamics during the second quarter valued at approximately $68,000. Finally, Acadian Asset Management LLC raised its position in Grid Dynamics by 239.0% during the first quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock valued at $82,000 after acquiring an additional 4,115 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $12.60 on Friday. The business’s 50 day moving average price is $15.47 and its 200-day moving average price is $17.25. The firm has a market capitalization of $932.40 million, a PE ratio of -32.31 and a beta of 0.82. Grid Dynamics Holdings, Inc. has a 1 year low of $9.09 and a 1 year high of $42.81.

Analyst Ratings Changes

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

Insider Transactions at Grid Dynamics

In other news, insider Stan Klimoff sold 12,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $16.92, for a total value of $203,040.00. Following the sale, the insider now directly owns 260,173 shares of the company’s stock, valued at $4,402,127.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Grid Dynamics Profile

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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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