Wellington Management Group LLP Sells 490,636 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Wellington Management Group LLP has reduced its stake in Grid Dynamics Holdings, Inc. by 20.7%, selling 490,636 shares and now holding approximately 1.88 million shares worth around $29.5 million.
• Several institutional investors, including the State of Wyoming and PNC Financial Services Group Inc., have made changes to their positions in Grid Dynamics, reflecting a broad institutional interest in the stock.
• Wall Street analysts have lowered their price targets for Grid Dynamics, with Needham & Company and JP Morgan Chase reducing their targets to $15.00 and $11.00, respectively, while the stock currently trades around $8.10.

Wellington Management Group LLP decreased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,882,113 shares of the company's stock after selling 490,636 shares during the period. Wellington Management Group LLP owned 2.24% of Grid Dynamics worth $29,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Northern Trust Corp grew its stake in Grid Dynamics by 3.7% during the first quarter. Northern Trust Corp now owns 882,826 shares of the company's stock valued at $13,816,000 after acquiring an additional 31,099 shares in the last quarter. American Century Companies Inc. grew its stake in Grid Dynamics by 72.7% during the first quarter. American Century Companies Inc. now owns 1,073,327 shares of the company's stock valued at $16,798,000 after acquiring an additional 451,862 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in Grid Dynamics during the first quarter valued at approximately $1,598,000. Lord Abbett & CO. LLC grew its stake in Grid Dynamics by 27.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,067,454 shares of the company's stock valued at $16,706,000 after acquiring an additional 231,598 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Grid Dynamics by 28,150.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock valued at $27,000 after acquiring an additional 1,689 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on GDYN. JPMorgan Chase & Co. reduced their price objective on shares of Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Needham & Company LLC reduced their price objective on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Wall Street Zen cut shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.75.

Grid Dynamics Stock Performance

Grid Dynamics stock traded up $0.22 during mid-day trading on Friday, hitting $8.29. 1,723,067 shares of the company traded hands, compared to its average volume of 1,618,368. Grid Dynamics Holdings, Inc. has a one year low of $7.46 and a one year high of $25.50. The stock has a market cap of $701.91 million, a price-to-earnings ratio of 43.63 and a beta of 1.06. The stock has a fifty day moving average price of $9.79 and a 200-day moving average price of $13.27.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $101.10 million during the quarter, compared to analyst estimates of $100.45 million. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. Grid Dynamics's revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side 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.