AQR Capital Management LLC Sells 1,689 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

AQR Capital Management LLC decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,003 shares of the company’s stock after selling 1,689 shares during the period. AQR Capital Management LLC’s holdings in Grid Dynamics were worth $116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in Grid Dynamics by 4.9% in the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after acquiring an additional 357,785 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Grid Dynamics by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock worth $51,643,000 after acquiring an additional 64,300 shares in the last quarter. Jennison Associates LLC boosted its holdings in Grid Dynamics by 1.2% in the first quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after acquiring an additional 26,974 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Grid Dynamics by 26.7% in the fourth quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after acquiring an additional 396,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total transaction of $38,910.00. Following the completion of the sale, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at approximately $4,789,587.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the sale, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at $4,789,587.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 961,387 shares of company stock valued at $12,349,914. 7.40% of the stock is owned by insiders.

Grid Dynamics Stock Up 1.1 %

Shares of Grid Dynamics stock opened at $15.59 on Friday. The company has a market cap of $1.19 billion, a PE ratio of 519.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $15.69. The business has a 50 day moving average price of $14.00 and a 200-day moving average price of $11.91.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. Grid Dynamics’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share.

Wall Street Analyst Weigh In

GDYN has been the topic of several recent research reports. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Citigroup cut their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC increased their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.67.

Grid Dynamics Company Profile

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.