Grid Dynamics (NASDAQ:GDYN – Get Free Report) issued its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm had revenue of $83.04 million during the quarter, compared to analyst estimates of $81.06 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Grid Dynamics updated its Q3 2024 guidance to EPS.
Grid Dynamics Stock Up 13.0 %
Shares of GDYN stock traded up $1.59 during trading on Friday, hitting $13.84. The company had a trading volume of 1,338,287 shares, compared to its average volume of 332,432. The stock’s 50-day moving average is $10.70 and its two-hundred day moving average is $11.56. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 461.33 and a beta of 1.05. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $14.70.
Insider Buying and Selling at Grid Dynamics
In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $10.68, for a total value of $106,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,605,901 shares in the company, valued at approximately $38,511,022.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $10.68, for a total value of $106,800.00. Following the transaction, the chief executive officer now owns 3,605,901 shares in the company, valued at approximately $38,511,022.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shuo Zhang sold 4,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.34, for a total transaction of $37,360.00. Following the sale, the director now owns 22,015 shares of the company’s stock, valued at $205,620.10. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock worth $754,660 over the last three months. 7.40% of the stock is owned by insiders.
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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.
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