Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla Sells 4,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at $6,645,140.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, November 1st, Anil Doradla sold 3,000 shares of Grid Dynamics stock. The stock was sold at an average price of $17.66, for a total value of $52,980.00.

Grid Dynamics Stock Performance

Shares of GDYN opened at $19.12 on Wednesday. The firm has a market cap of $1.47 billion, a P/E ratio of 651.88 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $19.86. The firm’s 50-day simple moving average is $14.88 and its 200 day simple moving average is $12.52.

Grid Dynamics (NASDAQ:GDYN) last posted 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. The company had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen upped their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of “Buy” and an average price target of $17.50.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after acquiring an additional 1,770 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Grid Dynamics during the 2nd quarter worth approximately $117,000. ProShare Advisors LLC acquired a new position in shares of Grid Dynamics during the 1st quarter worth approximately $124,000. XTX Topco Ltd bought a new position in shares of Grid Dynamics during the second quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Grid Dynamics in the second quarter valued at approximately $141,000. 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.