Grid Dynamics (NASDAQ:GDYN) Stock: Insider Anil Doradla Sells 1,500 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 1,500 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $13.26, for a total transaction of $19,890.00. Following the completion of the sale, the chief financial officer owned 373,009 shares of the company’s stock, valued at approximately $4,946,099.34. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 30th, Anil Doradla sold 20,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.51, for a total transaction of $210,200.00.

Grid Dynamics Stock Performance

Grid Dynamics stock traded up $0.20 during midday trading on Monday, hitting $13.30. 1,292,930 shares of the company’s stock were exchanged, compared to its average volume of 1,718,705. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 147.78 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 12-month low of $5.11 and a 12-month high of $14.02. The firm’s 50 day simple moving average is $8.68 and its 200 day simple moving average is $7.10.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, October 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. The business had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GDYN shares. Wall Street Zen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen raised their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research note on Thursday, October 29th. Needham & Company LLC lifted their price objective on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Zacks Research cut Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GDYN. Bastion Asset Management Inc. acquired a new position in Grid Dynamics in the 1st quarter valued at $6,899,000. Summit Creek Advisors LLC lifted its stake in shares of Grid Dynamics by 13.1% during the third quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock worth $3,848,000 after purchasing an additional 56,661 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Grid Dynamics by 13.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock worth $3,774,000 after acquiring an additional 56,505 shares during the period. Squarepoint Ops LLC acquired a new position in Grid Dynamics in the 2nd quarter worth $2,702,000. Finally, Bank of America Corp DE boosted its holdings in Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after purchasing an additional 157,767 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.