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 on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 stock was sold at an average price of $19.08, for a total transaction of $57,240.00.

Grid Dynamics Trading Down 3.6 %

Shares of GDYN opened at $22.72 on Thursday. The stock has a market capitalization of $1.87 billion, a PE ratio of 757.59 and a beta of 1.01. The firm’s 50 day moving average is $21.19 and its 200-day moving average is $17.18. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $24.60.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GDYN shares. Citigroup increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen increased their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC lifted their price target on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Grid Dynamics presently has a consensus rating of “Buy” and a consensus target price of $18.33.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds have recently added to or reduced their stakes in GDYN. Global Retirement Partners LLC bought a new stake in shares of Grid Dynamics during the 4th quarter valued at $27,000. FMR LLC raised its stake in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. MCF Advisors LLC lifted its position 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 purchasing an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ grew 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 increased its holdings in Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after buying an additional 2,974 shares during the period. Institutional investors own 71.18% of the company’s stock.

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.