Wellington Management Group LLP Trims Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wellington Management Group LLP lowered its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,372,749 shares of the company’s stock after selling 487,059 shares during the quarter. Wellington Management Group LLP’s holdings in Grid Dynamics were worth $52,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC lifted its holdings in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after buying an additional 740 shares during the last quarter. FMR LLC lifted its stake in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Grid Dynamics by 10.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after purchasing an additional 1,036 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the fourth quarter worth $27,000. Finally, Arizona State Retirement System increased its stake in Grid Dynamics by 7.6% during the fourth quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock valued at $396,000 after purchasing an additional 1,260 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 480,759 shares of the company’s stock, valued at approximately $8,062,328.43. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock worth $376,590 in the last three months. 7.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Grid Dynamics Stock Performance

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

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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.