Frontier Capital Management Co. LLC Reduces Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after purchasing an additional 1,171,481 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Grid Dynamics in the fourth quarter valued at $55,114,000. Dimensional Fund Advisors LP increased its stake in Grid Dynamics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares in the last quarter. Next Century Growth Investors LLC boosted its holdings in Grid Dynamics by 78.1% during the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after purchasing an additional 711,150 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Grid Dynamics by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock worth $31,895,000 after purchasing an additional 52,344 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Stock Up 9.2%

Grid Dynamics stock traded up $1.28 during midday trading on Monday, hitting $15.23. 1,145,974 shares of the stock were exchanged, compared to its average volume of 622,284. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 380.75 and a beta of 1.13. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $25.50. The business's 50-day moving average price is $14.98 and its 200-day moving average price is $18.23.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The business 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 company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now owns 482,759 shares of the company's stock, valued at $9,008,282.94. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $18.10, for a total transaction of $36,200.00. Following the sale, the chief financial officer now directly owns 366,818 shares in the company, valued at $6,639,405.80. This trade represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,043 shares of company stock valued at $327,338. Company insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

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

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.