Grid Dynamics (NASDAQ:GDYN) CFO Anil Doradla Sells 1,500 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 1,500 shares of Grid Dynamics stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $13.26, for a total value of $19,890.00. Following the sale, the chief financial officer owned 373,009 shares of the company’s stock, valued at approximately $4,946,099.34. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Anil Doradla sold 20,000 shares of Grid Dynamics stock. The shares were sold at an average price of $10.51, for a total value of $210,200.00.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $13.30 on Tuesday. The stock’s 50 day moving average price is $8.79 and its 200 day moving average price is $7.13. Grid Dynamics Holdings, Inc. has a 52 week low of $5.11 and a 52 week high of $14.02. The company has a market capitalization of $1.08 billion, a P/E ratio of 65.48 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $114.29 million for the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. As a group, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. Wall Street Zen raised Grid Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Finally, TD Cowen upped their price target on Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.80.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after buying an additional 3,122 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Grid Dynamics in the 2nd quarter valued at $75,000. FNY Investment Advisers LLC bought a new position in Grid Dynamics in the 2nd quarter worth $99,000. Vise Technologies Inc. bought a new position in Grid Dynamics in the 3rd quarter worth $103,000. Finally, StoneX Group Inc. bought a new position in Grid Dynamics in the 3rd quarter worth $120,000. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.