Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Sells $106,800.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $10.68, for a total transaction of $106,800.00. Following the sale, the chief executive officer now directly owns 3,605,901 shares in the company, valued at approximately $38,511,022.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Leonard Livschitz also recently made the following trade(s):

• On Tuesday, April 23rd, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.54, for a total value of $105,400.00.
• On Tuesday, April 9th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $11.87, for a total value of $178,050.00.
• On Tuesday, March 26th, Leonard Livschitz sold 11,884 shares of Grid Dynamics stock. The stock was sold at an average price of $12.03, for a total value of $142,964.52.
• On Tuesday, March 12th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was sold at an average price of $12.36, for a total transaction of $185,400.00.
• On Tuesday, February 27th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $13.88, for a total transaction of $208,200.00.
• On Tuesday, February 13th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was sold at an average price of $13.08, for a total transaction of $196,200.00.

Grid Dynamics Trading Down 4.4 %

GDYN stock traded down $0.48 on Thursday, hitting $10.52. The company’s stock had a trading volume of 363,579 shares, compared to its average volume of 316,703. Grid Dynamics Holdings, Inc. has a 1 year low of $8.05 and a 1 year high of $14.70. The stock has a market cap of $799.20 million, a price-to-earnings ratio of 350.78 and a beta of 1.00. The firm has a 50 day moving average of $11.56 and a two-hundred day moving average of $12.32.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The company had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. During the same quarter last year, the firm earned $0.14 EPS. The business’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Grid Dynamics by 113.9% during the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock worth $18,058,000 after acquiring an additional 789,373 shares during the period. Wasatch Advisors LP increased its position in Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares during the period. Fourth Sail Capital LP purchased a new position in shares of Grid Dynamics during the 4th quarter worth approximately $4,614,000. G2 Investment Partners Management LLC purchased a new position in shares of Grid Dynamics during the 4th quarter worth approximately $2,234,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Grid Dynamics by 42.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after buying an additional 142,446 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on GDYN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Grid Dynamics in a report on Friday, May 3rd. Citigroup decreased their target price on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Cantor Fitzgerald increased their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grid Dynamics presently has an average rating of “Buy” and a consensus price target of $15.75.

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.