Wellington Management Group LLP Acquires 675,419 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wellington Management Group LLP grew its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 30.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,859,808 shares of the company's stock after acquiring an additional 675,419 shares during the period. Wellington Management Group LLP owned 3.72% of Grid Dynamics worth $40,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of 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. Quarry LP lifted its position in Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock worth $73,000 after buying an additional 2,974 shares in the last quarter. Quantbot Technologies LP bought a new stake in Grid Dynamics during the 3rd quarter worth about $122,000. Intech Investment Management LLC bought a new stake in Grid Dynamics during the 3rd quarter worth about $153,000. Finally, Hsbc Holdings PLC acquired a new stake in Grid Dynamics in the 2nd quarter valued at about $117,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GDYN. Citigroup upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their target price on Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday. Finally, TD Cowen upped their price target on Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.33.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $19.08, for a total transaction of $57,240.00. Following the transaction, the chief financial officer now owns 373,282 shares of the company's stock, valued at $7,122,220.56. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the transaction, the chief executive officer now owns 3,460,901 shares of the company's stock, valued at approximately $50,390,718.56. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock worth $605,210. 7.20% of the stock is currently owned by company insiders.

Grid Dynamics Stock Down 0.9 %

GDYN stock traded down $0.18 during midday trading on Thursday, reaching $19.45. The company's stock had a trading volume of 318,123 shares, compared to its average volume of 385,281. The business's 50-day simple moving average is $16.82 and its 200-day simple moving average is $13.74. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $20.34. The stock has a market cap of $1.60 billion, a PE ratio of 654.33 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS.

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.