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 the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.66, for a total value of $52,980.00. Following the sale, the chief financial officer now directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Grid Dynamics Trading Up 2.6 %

Grid Dynamics stock opened at $16.02 on Wednesday. The company has a market capitalization of $1.23 billion, a PE ratio of 534.18 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $17.66. The stock has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $12.30.

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 firm had revenue of $87.40 million during 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 business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share.

Hedge Funds Weigh In On Grid Dynamics

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Grid Dynamics during the first quarter worth about $454,000. Jennison Associates LLC raised its position in shares of Grid Dynamics by 1.2% during the first quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after acquiring an additional 26,974 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Grid Dynamics by 6.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 99,380 shares of the company’s stock worth $1,221,000 after acquiring an additional 6,011 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Grid Dynamics by 14.5% during the first quarter. Russell Investments Group Ltd. now owns 185,281 shares of the company’s stock worth $2,277,000 after acquiring an additional 23,531 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Grid Dynamics during the first quarter worth about $124,000. 71.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GDYN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price objective on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. TD Cowen upped their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.50.

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.