Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells $38,910.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $12.97, for a total transaction of $38,910.00. Following the completion of the transaction, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at approximately $4,789,587.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, July 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.43, for a total value of $31,290.00.
• On Monday, June 10th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $10.00, for a total value of $30,000.00.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $13.84 on Monday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 461.33 and a beta of 1.05. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $14.70. The company’s 50 day moving average price is $10.70 and its two-hundred day moving average price is $11.55.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. During the same period last year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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 research note on Thursday, May 2nd. Citigroup cut their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 12th. TD Cowen raised Grid Dynamics from a “hold” rating to a “buy” rating and upped their target price for the company from $12.00 to $16.00 in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.17.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of Grid Dynamics by 5.2% in the second quarter. Rhumbline Advisers now owns 82,323 shares of the company’s stock worth $865,000 after purchasing an additional 4,072 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Grid Dynamics by 11.2% in the second quarter. Principal Financial Group Inc. now owns 41,044 shares of the company’s stock valued at $431,000 after acquiring an additional 4,134 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Grid Dynamics by 17.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after purchasing an additional 2,673 shares during the period. Bank of New York Mellon Corp raised its holdings in Grid Dynamics by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,095 shares of the company’s stock worth $2,523,000 after purchasing an additional 20,989 shares during the last quarter. Finally, Nicholas Company Inc. raised its stake in Grid Dynamics by 7.3% during the second quarter. Nicholas Company Inc. now owns 368,121 shares of the company’s stock worth $3,869,000 after buying an additional 24,986 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.