Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Sells $36,200.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 2,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the sale, the chief financial officer now owns 366,818 shares of the company’s stock, valued at approximately $6,639,405.80. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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

Grid Dynamics Stock Down 3.6 %

Shares of GDYN stock opened at $16.72 on Thursday. The company has a 50 day moving average of $21.05 and a 200-day moving average of $18.12. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The firm has a market cap of $1.40 billion, a P/E ratio of 418.00 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. As a group, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price objective on shares of 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $19.17.

Institutional Investors Weigh In On Grid Dynamics

Several large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Grid Dynamics in the 3rd quarter worth approximately $8,589,000. SG Americas Securities LLC bought a new position in Grid Dynamics in the 4th quarter worth approximately $242,000. Barclays PLC boosted its holdings in Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after buying an additional 70,579 shares during the period. Wellington Management Group LLP boosted its holdings in Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after buying an additional 675,419 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after buying an additional 17,763 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.