Leonard Livschitz Sells 15,000 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at $47,724,120.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, August 13th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00.
• 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 value of $103,800.00.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $14.01 on Friday. The company has a market cap of $1.07 billion, a PE ratio of 467.16 and a beta of 1.06. The firm has a fifty day moving average price of $13.38 and a two-hundred day moving average price of $11.65. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million during the quarter, compared to analysts’ expectations of $81.06 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDYN. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Citigroup decreased their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Grid Dynamics presently has an average rating of “Buy” and a consensus target price of $15.67.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC boosted its stake in Grid Dynamics by 42.3% during the first quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock worth $5,890,000 after buying an additional 142,446 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Grid Dynamics by 43.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock valued at $7,429,000 after acquiring an additional 182,052 shares in the last quarter. Comerica Bank increased its stake in Grid Dynamics by 198.8% in the first quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after acquiring an additional 51,778 shares during the period. Vanguard Group Inc. raised its position in Grid Dynamics by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock worth $51,643,000 after purchasing an additional 64,300 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares during the period. 71.18% of the stock is currently 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.