Grid Dynamics (NASDAQ:GDYN) CFO Anil Doradla Sells 4,368 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 4,368 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the transaction, the chief financial officer directly owned 344,852 shares in the company, valued at $3,448,520. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Grid Dynamics Stock Down 2.9%

NASDAQ GDYN traded down $0.29 during trading hours on Thursday, reaching $9.77. The company’s stock had a trading volume of 1,006,612 shares, compared to its average volume of 940,690. The firm’s 50-day moving average price is $8.46 and its 200-day moving average price is $9.34. Grid Dynamics Holdings, Inc. has a 1 year low of $7.37 and a 1 year high of $25.50. The company has a market capitalization of $828.20 million, a price-to-earnings ratio of 65.13 and a beta of 0.85.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 3.42% and a return on equity of 1.74%. The company had revenue of $104.16 million for the quarter, compared to the consensus estimate of $103.64 million. During the same period in the previous year, the firm posted $0.14 EPS. Grid Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Needham & Company LLC lowered their price target on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grid Dynamics in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on Grid Dynamics in a research note on Monday, September 22nd. They set a “buy” rating and a $11.00 price target on the stock. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.33.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of GDYN. Caitong International Asset Management Co. Ltd raised its holdings in shares of Grid Dynamics by 28,150.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after purchasing an additional 1,689 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after purchasing an additional 1,526 shares during the period. Canada Pension Plan Investment Board purchased a new position in Grid Dynamics during the second quarter worth approximately $43,000. SBI Securities Co. Ltd. purchased a new position in Grid Dynamics during the third quarter worth approximately $31,000. Finally, Quarry LP grew its holdings in Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after purchasing an additional 1,757 shares during the period. Institutional investors and hedge funds 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.