Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla Sells 2,000 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $12.22, for a total value of $24,440.00. Following the transaction, the chief financial officer directly owned 354,388 shares in the company, valued at $4,330,621.36. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Grid Dynamics Price Performance

Shares of GDYN traded down $0.08 during trading hours on Tuesday, reaching $12.24. 785,367 shares of the company's stock traded hands, compared to its average volume of 672,269. The business's fifty day simple moving average is $12.76 and its two-hundred day simple moving average is $16.65. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 102.01 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a twelve month low of $10.15 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. Grid Dynamics's revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after acquiring an additional 1,171,481 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Grid Dynamics in the 4th quarter valued at $55,114,000. Dimensional Fund Advisors LP boosted its position in shares of Grid Dynamics by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares during the period. Next Century Growth Investors LLC boosted its position in shares of Grid Dynamics by 10.8% in the 1st quarter. Next Century Growth Investors LLC now owns 1,798,071 shares of the company's stock valued at $28,140,000 after purchasing an additional 175,845 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Grid Dynamics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after purchasing an additional 52,344 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC raised their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $18.75.

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.

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