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

Wellington Management Group LLP decreased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,372,749 shares of the company's stock after selling 487,059 shares during the quarter. Wellington Management Group LLP owned approximately 2.83% of Grid Dynamics worth $52,770,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Wyoming boosted its stake in Grid Dynamics by 4.1% during the fourth quarter. State of Wyoming now owns 26,495 shares of the company's stock worth $589,000 after buying an additional 1,046 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in Grid Dynamics during the 4th quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Grid Dynamics by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock worth $722,000 after purchasing an additional 1,106 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Grid Dynamics during the 4th quarter worth about $27,000. Finally, Arizona State Retirement System raised its holdings in Grid Dynamics by 7.6% during the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock worth $396,000 after purchasing an additional 1,260 shares during the last quarter. Institutional investors own 71.18% of the company's stock.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 480,759 shares of the company's stock, valued at $8,062,328.43. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 8,737 shares of company stock worth $135,028. 7.20% of the stock is currently owned by insiders.

Grid Dynamics Stock Up 1.3%

NASDAQ GDYN traded up $0.16 on Tuesday, reaching $12.16. The company had a trading volume of 72,741 shares, compared to its average volume of 638,112. The stock has a market capitalization of $1.03 billion, a P/E ratio of 304.00 and a beta of 1.13. The company's fifty day moving average is $13.84 and its 200 day moving average is $17.85. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $100.42 million during the quarter, compared to the consensus estimate of $98.19 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

GDYN has been the subject of a number of research reports. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday. Needham & Company LLC raised their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grid Dynamics has a consensus rating of "Buy" and an average price target of $18.75.

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.