Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,372,749 shares of the company’s stock after selling 487,059 shares during the quarter. Wellington Management Group LLP owned about 2.88% of Grid Dynamics worth $52,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Grid Dynamics in the fourth quarter valued at $27,000. FMR LLC grew its holdings 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 during the period. MCF Advisors LLC increased its stake in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock worth $71,000 after acquiring an additional 1,282 shares during the period. Finally, Quarry LP boosted its position in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after acquiring an additional 2,974 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Stock Performance

GDYN opened at $13.72 on Friday. The company has a market cap of $1.15 billion, a PE ratio of 343.00 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The firm has a 50 day moving average price of $19.31 and a 200 day moving average price of $18.38.

Grid Dynamics (NASDAQ:GDYN) last issued its 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). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC upped their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.60.

Insider Activity

In other news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total transaction of $33,540.00. Following the sale, the chief operating officer now directly owns 480,759 shares in the company, valued at $8,062,328.43. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is currently owned by corporate insiders.

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.