Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Position Trimmed by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC lessened its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 774,025 shares of the company's stock after selling 71,786 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.94% of Grid Dynamics worth $17,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GDYN. American Century Companies Inc. increased its stake in Grid Dynamics by 824.9% in the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock valued at $13,821,000 after purchasing an additional 554,275 shares during the last quarter. SG Americas Securities LLC acquired a new position in Grid Dynamics in the fourth quarter valued at $242,000. Barclays PLC increased its position in shares of Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company's stock worth $1,556,000 after purchasing an additional 70,579 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Grid Dynamics by 15.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company's stock valued at $4,734,000 after purchasing an additional 28,505 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Grid Dynamics by 1,540.0% in the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock valued at $7,041,000 after purchasing an additional 297,296 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Grid Dynamics has an average rating of "Buy" and an average target price of $17.60.

Grid Dynamics Price Performance

Shares of GDYN stock traded down $0.83 during trading hours on Wednesday, reaching $14.20. 289,699 shares of the company's stock were exchanged, compared to its average volume of 623,724. The company's 50 day moving average is $14.85 and its two-hundred day moving average is $18.20. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The company has a market cap of $1.19 billion, a P/E ratio of 355.00 and a beta of 1.13.

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

Insiders Place Their Bets

In other news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the sale, the chief operating officer now directly owns 474,269 shares in the company, valued at $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by corporate insiders.

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.