Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells 4,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 5.8 %

NASDAQ GDYN opened at $17.03 on Friday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $19.86. The stock’s 50 day moving average is $15.14 and its two-hundred day moving average is $12.66. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 567.67 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last announced 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. The firm had revenue of $87.40 million for the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GDYN shares. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Needham & Company LLC increased their price objective on Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of 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 increased 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, November 1st. Finally, Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grid Dynamics presently has an average rating of “Buy” and a consensus target price of $17.50.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its holdings in shares of Grid Dynamics by 42.3% during the first quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock worth $5,890,000 after buying an additional 142,446 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Grid Dynamics by 43.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock worth $7,429,000 after purchasing an additional 182,052 shares during the last quarter. Comerica Bank increased its stake in shares of Grid Dynamics by 198.8% in the first quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after buying an additional 51,778 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Grid Dynamics by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after buying an additional 64,300 shares in the last quarter. Finally, Fourth Sail Capital LP raised its holdings in shares of Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after buying an additional 446,477 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.