Anil Doradla Sells 3,000 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares of the company’s stock, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 9th, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00.
• On Thursday, November 7th, Anil Doradla sold 4,000 shares of Grid Dynamics stock. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00.
• On Friday, November 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00.

Grid Dynamics Trading Down 2.1 %

Shares of Grid Dynamics stock opened at $21.12 on Friday. The stock has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $15.36. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $24.16. The company has a market capitalization of $1.74 billion, a P/E ratio of 704.23 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating 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 the consensus estimate of $85.09 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GDYN shares. Needham & Company LLC upped their price target on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup upped their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen lifted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $18.33.

Institutional Trading of Grid Dynamics

A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in shares of Grid Dynamics in the 3rd quarter worth about $8,589,000. Fourth Sail Capital LP lifted its stake in Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Grid Dynamics in the third quarter worth $1,143,000. Wellington Management Group LLP lifted its position in shares of Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after buying an additional 675,419 shares during the last quarter. Finally, Barclays PLC raised its stake in Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after acquiring an additional 70,579 shares during the period. 71.18% of the stock is currently owned by institutional investors.

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.