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

Wellington Management Group LLP trimmed its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 17.0% during the fourth quarter, according to the company in 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 period. Wellington Management Group LLP owned 2.88% of Grid Dynamics worth $52,770,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Grid Dynamics in the 4th quarter worth about $27,000. MCF Advisors LLC lifted its stake in shares of Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after purchasing an additional 740 shares in the last quarter. FMR LLC lifted its stake in shares of 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 purchasing an additional 801 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Grid Dynamics by 68.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock valued at $71,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares in the company, valued at $8,214,979.08. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares in the company, valued at $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock worth $349,078 in the last three months. 7.20% of the stock is owned by insiders.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded down $0.95 during mid-day trading on Thursday, hitting $13.81. 73,216 shares of the company traded hands, compared to its average volume of 600,657. The firm has a market cap of $1.16 billion, a P/E ratio of 349.55 and a beta of 0.99. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The firm's 50 day simple moving average is $18.51 and its 200 day simple moving average is $18.37.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced 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). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC lifted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research note 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's stock. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and a consensus target price of $19.60.

Grid Dynamics 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.