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

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

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 Down 5.4 %

NASDAQ:GDYN opened at $18.08 on Thursday. The business’s 50-day moving average price is $14.99 and its 200 day moving average price is $12.59. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $19.86. The firm has a market cap of $1.39 billion, a P/E ratio of 602.87 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $85.09 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue was up 12.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after buying an additional 1,770 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Grid Dynamics in the second quarter worth approximately $117,000. Quantbot Technologies LP purchased a new position in shares of Grid Dynamics in the third quarter worth approximately $122,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Grid Dynamics during the first quarter valued at approximately $124,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.