Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells 2,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the transaction, the chief financial officer now directly owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. 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 Tuesday, January 7th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00.
• On Monday, December 9th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $19.08, for a total transaction of $57,240.00.

Grid Dynamics Price Performance

GDYN stock traded up $0.61 on Tuesday, reaching $23.56. 1,038,907 shares of the company were exchanged, compared to its average volume of 743,641. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $24.60. The stock’s fifty day moving average price is $21.09 and its 200 day moving average price is $17.10. The firm has a market capitalization of $1.94 billion, a PE ratio of 785.60 and a beta of 1.01.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of GDYN. Global Retirement Partners LLC acquired a new stake in Grid Dynamics during the fourth quarter worth $27,000. FMR LLC boosted its stake in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares in the last quarter. MCF Advisors LLC boosted its stake in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after buying an additional 740 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company’s stock worth $71,000 after buying an additional 1,282 shares in the last quarter. Finally, Quarry LP boosted its stake in Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after buying an additional 2,974 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GDYN. JPMorgan Chase & Co. lifted their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company 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 company a “buy” rating in a research report on Thursday, December 12th. Finally, TD Cowen lifted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $18.33.

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.