Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla Sells 3,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Monday, December 9th. The shares were sold at an average price of $19.08, for a total transaction of $57,240.00. Following the completion of the sale, the chief financial officer now directly owns 373,282 shares of the company’s stock, valued at approximately $7,122,220.56. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, November 7th, Anil Doradla sold 4,000 shares of Grid Dynamics stock. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00.
• On Friday, November 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00.

Grid Dynamics Stock Performance

Shares of GDYN opened at $20.00 on Wednesday. The company has a 50-day simple moving average of $16.59 and a 200-day simple moving average of $13.63. The firm has a market capitalization of $1.65 billion, a P/E ratio of 665.33 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $20.34.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen boosted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price 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. Finally, Needham & Company LLC boosted their target price on shares of Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 presently has a consensus rating of “Buy” and an average price target of $17.50.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after acquiring an additional 70,579 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Grid Dynamics by 35.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 107,738 shares of the company’s stock valued at $1,508,000 after acquiring an additional 28,438 shares during the period. Geode Capital Management LLC increased its stake in Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after acquiring an additional 17,763 shares during the period. Wellington Management Group LLP increased its stake in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after acquiring an additional 675,419 shares during the period. Finally, State Street Corp increased its stake in Grid Dynamics by 0.5% in the third quarter. State Street Corp now owns 1,446,130 shares of the company’s stock valued at $20,246,000 after acquiring an additional 6,938 shares during the period. Institutional investors own 71.18% of the company’s stock.

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.