Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Sells 10,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $9.24, for a total value of $92,400.00. Following the transaction, the chief executive officer now directly owns 3,585,901 shares in the company, valued at approximately $33,133,725.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Leonard Livschitz also recently made the following trade(s):

• On Tuesday, May 21st, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.12, for a total transaction of $101,200.00.
• On Tuesday, May 7th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.68, for a total transaction of $106,800.00.
• On Tuesday, April 23rd, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.54, for a total value of $105,400.00.
• On Tuesday, April 9th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was sold at an average price of $11.87, for a total value of $178,050.00.
• On Tuesday, March 26th, Leonard Livschitz sold 11,884 shares of Grid Dynamics stock. The shares were sold at an average price of $12.03, for a total value of $142,964.52.
• On Tuesday, March 12th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $12.36, for a total transaction of $185,400.00.

Grid Dynamics Stock Performance

NASDAQ GDYN traded up $0.34 during trading hours on Wednesday, hitting $9.42. 469,539 shares of the company’s stock were exchanged, compared to its average volume of 318,282. The business’s 50 day moving average is $10.53 and its 200-day moving average is $12.18. Grid Dynamics Holdings, Inc. has a 12-month low of $8.67 and a 12-month high of $14.70. The firm has a market capitalization of $720.82 million, a P/E ratio of 314.10 and a beta of 1.02.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. The company had revenue of $79.82 million during the quarter, compared to analyst estimates of $77.48 million. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GDYN. Wasatch Advisors LP lifted its position in Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after buying an additional 357,785 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after acquiring an additional 64,300 shares during the period. Jennison Associates LLC lifted its holdings in shares of Grid Dynamics by 1.2% during the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock valued at $28,748,000 after acquiring an additional 26,974 shares in the last quarter. Wellington Management Group LLP boosted its position in Grid Dynamics by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after purchasing an additional 396,320 shares during the period. Finally, Summit Creek Advisors LLC increased its holdings in Grid Dynamics by 0.7% in the 1st quarter. Summit Creek Advisors LLC now owns 917,304 shares of the company’s stock valued at $11,274,000 after purchasing an additional 6,047 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GDYN. Cantor Fitzgerald upped their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Grid Dynamics in a report on Friday, May 3rd. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Grid Dynamics in a research report on Thursday, May 23rd. Citigroup dropped their price objective on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.20.

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.