Wellington Management Group LLP Sells 487,059 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wellington Management Group LLP trimmed its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 17.0% in the fourth quarter, according to the company in 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 period. Wellington Management Group LLP owned 2.83% of Grid Dynamics worth $52,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in GDYN. Loomis Sayles & Co. L P acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $55,114,000. Vanguard Group Inc. grew its stake in Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the period. Focus Partners Wealth acquired a new stake in Grid Dynamics during the fourth quarter worth approximately $23,053,000. William Blair Investment Management LLC acquired a new stake in Grid Dynamics during the fourth quarter worth approximately $22,192,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Grid Dynamics during the fourth quarter worth approximately $20,162,000. Institutional investors own 71.18% of the company's stock.

Insider Activity

In other news, COO Yury Gryzlov sold 10,306 shares of the firm's 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 transaction, the chief operating officer now owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the transaction, the chief financial officer now owns 366,818 shares in the company, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock worth $327,338 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Grid Dynamics Stock Down 3.8%

NASDAQ:GDYN traded down $0.47 on Monday, hitting $12.06. The stock had a trading volume of 240,069 shares, compared to its average volume of 639,188. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $25.50. The company has a market cap of $1.02 billion, a PE ratio of 301.18 and a beta of 1.13. The business's fifty day moving average is $13.93 and its 200 day moving average is $17.88.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same quarter in the prior year, the business posted $0.10 EPS. The firm's revenue was up 25.8% compared to the same quarter last year. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on GDYN. 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 target price on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grid Dynamics presently has an average rating of "Buy" and a consensus target price of $18.75.

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.