Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells 4,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) CFO Anil Doradla sold 4,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the sale, the chief financial officer now owns 376,282 shares of the company's stock, valued at approximately $6,645,140.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00.

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.49 during trading on Tuesday, reaching $19.12. 292,792 shares of the company's stock were exchanged, compared to its average volume of 344,058. The stock has a market capitalization of $1.47 billion, a P/E ratio of 651.88 and a beta of 1.04. The business has a 50 day moving average price of $14.88 and a 200-day moving average price of $12.52. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $19.86.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same period in the previous year, the business earned $0.08 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised shares of Grid Dynamics to a "strong-buy" rating in a research report on Monday, August 12th. Citigroup lifted 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. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, TD Cowen increased their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Five investment 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.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.50.

Institutional Investors Weigh In On Grid Dynamics

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its stake in shares of Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company's stock valued at $106,000 after buying an additional 1,770 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Grid Dynamics during the 2nd quarter worth $117,000. ProShare Advisors LLC bought a new position in shares of Grid Dynamics in the first quarter valued at approximately $124,000. XTX Topco Ltd purchased a new position in shares of Grid Dynamics in the second quarter valued at $129,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Grid Dynamics during the 2nd quarter valued at about $141,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.