Anil Doradla Sells 3,000 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total value of $52,980.00. Following the completion of the sale, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Grid Dynamics Stock Up 2.5 %

GDYN stock traded up $0.38 during midday trading on Monday, hitting $15.62. The company’s stock had a trading volume of 753,088 shares, compared to its average volume of 338,181. The stock’s 50-day moving average price is $14.49 and its 200 day moving average price is $12.26. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 520.84 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $17.66.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Grid Dynamics’s revenue was up 12.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GDYN shares. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen upped their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Finally, Citigroup lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after buying an additional 1,770 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics in the 2nd quarter worth about $117,000. ProShare Advisors LLC acquired a new position in Grid Dynamics during the 1st quarter valued at about $124,000. XTX Topco Ltd bought a new stake in shares of Grid Dynamics in the 2nd quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Grid Dynamics during the second quarter valued at approximately $141,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.