Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells $52,980.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the sale, the chief financial officer now directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $15.62 on Tuesday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $17.66. The business has a fifty day moving average price of $14.49 and a two-hundred day moving average price of $12.26. The stock has a market capitalization of $1.20 billion, a PE ratio of 520.84 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in Grid Dynamics during the first quarter worth $454,000. Jennison Associates LLC raised its position in shares of Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after acquiring an additional 26,974 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Grid Dynamics by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 99,380 shares of the company’s stock worth $1,221,000 after acquiring an additional 6,011 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Grid Dynamics by 14.5% in the 1st quarter. Russell Investments Group Ltd. now owns 185,281 shares of the company’s stock valued at $2,277,000 after purchasing an additional 23,531 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Grid Dynamics during the 1st quarter valued at about $124,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen increased their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC lifted their price target on Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $17.50.

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.