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

Wellington Management Group LLP boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 26.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,878,946 shares of the company’s stock after buying an additional 396,320 shares during the quarter. Wellington Management Group LLP’s holdings in Grid Dynamics were worth $25,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System grew its stake in Grid Dynamics by 5.3% in the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after purchasing an additional 855 shares during the period. American Trust grew its stake in Grid Dynamics by 10.1% in the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after purchasing an additional 1,186 shares during the period. Swiss National Bank grew its stake in Grid Dynamics by 1.1% in the 3rd quarter. Swiss National Bank now owns 123,500 shares of the company’s stock valued at $1,504,000 after purchasing an additional 1,300 shares during the period. International Assets Investment Management LLC bought a new position in Grid Dynamics in the 4th quarter valued at $26,000. Finally, Barclays PLC grew its stake in Grid Dynamics by 8.5% in the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a research note on Thursday, May 23rd. Cantor Fitzgerald increased their price target on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Citigroup cut their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Grid Dynamics in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.20.

Grid Dynamics Stock Up 0.7 %

Shares of NASDAQ GDYN opened at $10.26 on Tuesday. Grid Dynamics Holdings, Inc. has a 52 week low of $8.76 and a 52 week high of $14.70. The business has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $11.92. The company has a market cap of $785.10 million, a P/E ratio of 342.11 and a beta of 1.02.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The company had revenue of $79.82 million during the quarter, compared to the consensus estimate of $77.48 million. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, Director Shuo Zhang sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $9.34, for a total value of $37,360.00. Following the sale, the director now owns 22,015 shares of the company’s stock, valued at approximately $205,620.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now owns 385,979 shares of the company’s stock, valued at approximately $3,859,790. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shuo Zhang sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.34, for a total value of $37,360.00. Following the transaction, the director now directly owns 22,015 shares in the company, valued at $205,620.10. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $777,810 in the last 90 days. Corporate insiders own 7.40% of the company’s stock.

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.