Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells $66,360.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anil Doradla also recently made the following trade(s):

• On Monday, December 9th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00.
• On Thursday, November 7th, Anil Doradla sold 4,000 shares of Grid Dynamics stock. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00.
• On Friday, November 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $17.66, for a total value of $52,980.00.

Grid Dynamics Stock Down 3.7 %

Shares of NASDAQ:GDYN opened at $20.34 on Friday. The firm has a market cap of $1.68 billion, a P/E ratio of 678.23 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $24.16. The company’s 50-day moving average price is $19.33 and its two-hundred day moving average price is $15.43.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same quarter last year, the business posted $0.08 earnings per share. Grid Dynamics’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Grid Dynamics during the 3rd quarter worth approximately $8,589,000. Fourth Sail Capital LP raised its stake in shares of Grid Dynamics by 138.0% during the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after buying an additional 446,477 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after buying an additional 206,201 shares during the period. Finally, Rice Hall James & Associates LLC bought a new position in Grid Dynamics in the third quarter valued at approximately $1,751,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Ratings Changes

GDYN has been the subject of several analyst reports. Citigroup raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, TD Cowen boosted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.33.

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.