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 business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the transaction, the chief financial officer now directly owns 366,818 shares of the company’s stock, valued at $6,639,405.80. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, February 7th, Anil Doradla sold 2,000 shares of Grid Dynamics stock. The stock was sold at an average price of $24.09, for a total value of $48,180.00.
• 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 value of $66,360.00.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded down $1.65 during mid-day trading on Monday, reaching $16.77. 1,168,292 shares of the company’s stock were exchanged, compared to its average volume of 545,214. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 419.25 and a beta of 1.10. The business’s fifty day moving average price is $21.26 and its 200-day moving average price is $18.11. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business had revenue of $100.28 million for the quarter, compared to analyst estimates of $96.00 million. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC increased their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $19.17.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of GDYN. Royce & Associates LP boosted its stake in shares of Grid Dynamics by 5.9% in the 3rd quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after purchasing an additional 44,720 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Grid Dynamics by 35,544.7% in the 3rd quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock valued at $235,000 after purchasing an additional 16,706 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at $153,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Grid Dynamics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after purchasing an additional 13,785 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at $122,000. 71.18% of the stock is owned by institutional investors.

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.