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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $10.43, for a total transaction of $31,290.00. Following the completion of the sale, the chief financial officer now directly owns 372,282 shares in the company, valued at $3,882,901.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 10th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.00, for a total transaction of $30,000.00.
• On Wednesday, May 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.00, for a total transaction of $30,000.00.

Grid Dynamics Price Performance

Grid Dynamics stock traded down $0.04 during trading hours on Wednesday, reaching $10.53. The company had a trading volume of 175,354 shares, compared to its average volume of 328,449. Grid Dynamics Holdings, Inc. has a 12-month low of $9.00 and a 12-month high of $14.70. The company has a 50-day moving average price of $10.02 and a 200 day moving average price of $11.79. The firm has a market cap of $805.76 million, a price-to-earnings ratio of 351.12 and a beta of 1.05.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The firm had revenue of $79.82 million during the quarter, compared to analysts’ expectations of $77.48 million. As a group, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Grid Dynamics by 113.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after purchasing an additional 789,373 shares during the period. 1492 Capital Management LLC lifted its stake in Grid Dynamics by 1.1% in the fourth quarter. 1492 Capital Management LLC now owns 271,964 shares of the company’s stock worth $3,625,000 after acquiring an additional 2,926 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Grid Dynamics by 5.8% in the third quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company’s stock valued at $3,308,000 after acquiring an additional 14,940 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Grid Dynamics by 41.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company’s stock valued at $2,789,000 after purchasing an additional 60,906 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Grid Dynamics by 13.3% during the fourth quarter. New York State Common Retirement Fund now owns 20,786 shares of the company’s stock valued at $277,000 after purchasing an additional 2,434 shares during the period. 71.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GDYN has been the topic of a number of research reports. Citigroup lowered their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price objective on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Grid Dynamics in a research note on Friday, May 3rd. Cantor Fitzgerald lifted their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Grid Dynamics in a research note on Thursday, May 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grid Dynamics currently has an average rating of “Buy” and an average target price of $15.20.

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.