Grid Dynamics (NASDAQ:GDYN) CFO Sells $19,890.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 1,500 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $13.26, for a total value of $19,890.00. Following the completion of the sale, the chief financial officer owned 373,009 shares of the company’s stock, valued at $4,946,099.34. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Anil Doradla sold 20,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.51, for a total value of $210,200.00.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $13.83 on Thursday. Grid Dynamics Holdings, Inc. has a one year low of $5.11 and a one year high of $14.14. The firm has a market cap of $1.11 billion, a P/E ratio of 153.67 and a beta of 0.88. The stock’s 50-day moving average is $9.03 and its 200-day moving average is $7.18.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The business had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds have recently made changes to their positions in GDYN. Russell Investments Group Ltd. increased its stake in Grid Dynamics by 13.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock valued at $3,774,000 after buying an additional 56,505 shares during the last quarter. Fifth Third Bancorp lifted its position in Grid Dynamics by 13.2% during the 3rd quarter. Fifth Third Bancorp now owns 22,594 shares of the company’s stock worth $178,000 after buying an additional 2,640 shares in the last quarter. Fulcrum Asset Management LLP lifted its position in Grid Dynamics by 62,642.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 52,704 shares of the company’s stock worth $403,000 after buying an additional 52,620 shares in the last quarter. Summit Creek Advisors LLC boosted its stake in shares of Grid Dynamics by 13.1% during the 3rd quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock worth $3,848,000 after buying an additional 56,661 shares during the last quarter. Finally, StoneX Group Inc. acquired a new position in shares of Grid Dynamics during the 3rd quarter worth about $120,000. 71.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a report on Friday, October 30th. Needham & Company LLC raised their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. Zacks Research cut shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.80.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc. is a digital engineering and technology consulting company that helps businesses develop and modernize software, data platforms and digital products. Its services include cloud and data engineering, artificial intelligence and machine learning, application development, and digital commerce solutions. The company works with clients across industries to support technology strategy and implementation, including the design, development and operation of digital systems. Grid Dynamics was founded in 2006 and is headquartered in San Ramon, California, with delivery and client operations spanning North America, Europe and Asia.