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 business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now directly owns 385,979 shares of the company’s stock, valued at $3,859,790. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, March 1st, Anil Doradla sold 4,000 shares of Grid Dynamics stock. The shares were sold at an average price of $13.26, for a total value of $53,040.00.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock traded up $0.23 on Friday, reaching $10.07. 556,407 shares of the company traded hands, compared to its average volume of 314,441. The firm has a market capitalization of $765.02 million, a PE ratio of -335.55 and a beta of 1.00. The company has a 50 day moving average of $11.82 and a 200 day moving average of $12.35. Grid Dynamics Holdings, Inc. has a 52 week low of $8.00 and a 52 week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The firm had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $76.64 million. During the same period in the prior year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GDYN shares. Cantor Fitzgerald raised their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Citigroup cut their target price on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. dropped their price target on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Grid Dynamics in a research report on Friday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.75.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Grid Dynamics during the third quarter valued at about $142,000. Summit Creek Advisors LLC raised its stake in shares of Grid Dynamics by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 984,074 shares of the company’s stock valued at $11,986,000 after acquiring an additional 3,564 shares during the last quarter. Barclays PLC raised its position in Grid Dynamics by 8.5% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the last quarter. Swiss National Bank lifted its stake in Grid Dynamics by 1.1% in the third quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $1,504,000 after acquiring an additional 1,300 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Grid Dynamics by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock valued at $5,218,000 after acquiring an additional 29,892 shares in the last quarter. 71.18% of the stock is currently owned by 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.