Grid Dynamics (NASDAQ:GDYN) CFO Anil Doradla Sells 20,000 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 20,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the sale, the chief financial officer owned 374,509 shares of the company’s stock, valued at approximately $3,936,089.59. The trade was a 5.07% decrease in their ownership of the stock. The sale 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.

Grid Dynamics Price Performance

GDYN stock opened at $13.36 on Friday. Grid Dynamics Holdings, Inc. has a one year low of $5.11 and a one year high of $13.39. The stock has a market cap of $1.08 billion, a PE ratio of 148.44 and a beta of 0.97. The firm has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $6.99.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $114.29 million for the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.23%. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.20 EPS for the current fiscal year.

Trending Headlines about Grid Dynamics

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Grid Dynamics reported adjusted earnings of $0.18 per share, above the $0.12–$0.13 consensus range and up from $0.09 a year earlier. Revenue reached $114.29 million, topping the $112.77 million estimate. Grid Dynamics Q3 earnings report
• Positive Sentiment: Record quarterly performance and constructive guidance supported the rally. Company coverage characterized the quarter as a record result, while management’s outlook for the next quarter was described as optimistic, reinforcing expectations for continued growth. Grid Dynamics record third-quarter results
• Positive Sentiment: TD Cowen raised its price target and initiated a Buy recommendation. The firm increased its target from $9 to $13, signaling improved confidence in Grid Dynamics’ earnings and growth prospects. TD Cowen analyst recommendation
• Positive Sentiment: The company launched a business process consulting practice. The new offering could broaden Grid Dynamics’ services and create additional opportunities to win enterprise transformation work. Grid Dynamics consulting practice launch
• Neutral Sentiment: Despite the Buy rating, TD Cowen’s $13 target is slightly below the stock’s current trading level, indicating that much of the near-term optimism may already be reflected in the shares.
• Negative Sentiment: Grid Dynamics remains richly valued relative to reported profitability, with a very high price-to-earnings ratio and a net margin below 1%, leaving the stock sensitive to any slowdown in growth or weaker future guidance.

Hedge Funds Weigh In On Grid Dynamics

A number of large investors have recently added to or reduced their stakes in the business. Bastion Asset Management Inc. bought a new stake in Grid Dynamics in the first quarter valued at approximately $6,899,000. Squarepoint Ops LLC bought a new position in shares of Grid Dynamics in the second quarter worth approximately $2,702,000. Summit Creek Advisors LLC bought a new position in shares of Grid Dynamics in the second quarter worth approximately $2,452,000. Bank of America Corp DE grew its holdings in shares of Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after purchasing an additional 157,767 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Grid Dynamics by 2.4% in the first quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock worth $1,846,000 after buying an additional 7,548 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen raised their price objective on Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday. Needham & Company LLC upped their target price on Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.80.

About Grid Dynamics

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.