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 company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value 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 value 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 value of $52,980.00.

Grid Dynamics Stock Down 2.1 %

GDYN opened at $21.12 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $24.16. The company has a fifty day moving average of $19.12 and a 200-day moving average of $15.32. The stock has a market cap of $1.74 billion, a PE ratio of 704.23 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $87.40 million during the quarter, compared to the consensus estimate 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 last year, the business posted $0.08 EPS. Sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised 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 period. Lord Abbett & CO. LLC purchased a new position in shares of Grid Dynamics in the 3rd quarter worth approximately $8,589,000. Fourth Sail Capital LP grew its stake in 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 period. Dimensional Fund Advisors LP raised its position in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new position in Grid Dynamics in the third quarter valued at approximately $1,751,000. 71.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five equities research 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, Grid Dynamics currently has an average rating of “Buy” and an average price target of $18.33.

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.