Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Sells 15,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the completion of the transaction, the chief executive officer now directly owns 3,520,901 shares of the company’s stock, valued at approximately $45,842,131.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Leonard Livschitz also recently made the following trade(s):

• On Tuesday, July 16th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00.
• On Tuesday, July 2nd, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00.
• On Tuesday, June 18th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The shares were sold at an average price of $9.66, for a total value of $96,600.00.
• On Tuesday, June 4th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $9.24, for a total value of $92,400.00.
• On Tuesday, May 21st, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.12, for a total value of $101,200.00.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded up $0.50 on Thursday, hitting $13.43. 186,355 shares of the company’s stock were exchanged, compared to its average volume of 340,260. The firm’s 50-day moving average is $11.28 and its 200 day moving average is $11.59. The company has a market capitalization of $1.03 billion, a PE ratio of 448.67 and a beta of 1.05. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $14.70.

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

Institutional Trading of Grid Dynamics

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its position in shares of Grid Dynamics by 5.3% in the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after purchasing an additional 855 shares during the period. Mirador Capital Partners LP boosted its position in shares of Grid Dynamics by 0.8% in the 2nd quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock valued at $1,297,000 after purchasing an additional 954 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of Grid Dynamics by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after purchasing an additional 1,735 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GDYN shares. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Grid Dynamics in a report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday. Citigroup cut their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Finally, Needham & Company LLC upped their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grid Dynamics presently has an average rating of “Buy” and a consensus target price of $15.33.

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.