Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells 3,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total value of $66,360.00. Following the sale, the chief financial officer now directly owns 343,012 shares of the company’s stock, valued at $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 shares were 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 stock was sold at an average price of $17.66, for a total transaction of $52,980.00.

Grid Dynamics Trading Down 2.1 %

NASDAQ:GDYN traded down $0.46 during trading hours on Wednesday, hitting $21.12. The company’s stock had a trading volume of 714,723 shares, compared to its average volume of 976,865. The stock has a fifty day moving average of $19.02 and a 200-day moving average of $15.28. The stock has a market capitalization of $1.74 billion, a P/E ratio of 704.23 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $24.16.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. During the same period in the prior year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GDYN. Lord Abbett & CO. LLC acquired a new position in Grid Dynamics in the third quarter valued at $8,589,000. Fourth Sail Capital LP lifted its holdings in shares of Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at about $1,143,000. Wellington Management Group LLP grew its stake 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 buying an additional 675,419 shares during the last quarter. Finally, Barclays PLC increased its position in Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after buying an additional 70,579 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.