Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz Sells 10,000 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $10.68, for a total value of $106,800.00. Following the transaction, the chief executive officer now owns 3,605,901 shares in the company, valued at approximately $38,511,022.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 transaction 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 transaction of $142,964.52.
• On Tuesday, March 12th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $12.36, for a total value 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 value of $208,200.00.
• On Tuesday, February 13th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were sold at an average price of $13.08, for a total transaction of $196,200.00.

Grid Dynamics Price Performance

NASDAQ:GDYN traded down $0.09 during mid-day trading on Friday, reaching $10.43. The stock had a trading volume of 14,360 shares, compared to its average volume of 313,298. The stock’s 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $12.32. Grid Dynamics Holdings, Inc. has a 1-year low of $8.05 and a 1-year high of $14.70. The company has a market capitalization of $792.37 million, a price-to-earnings ratio of 350.78 and a beta of 1.00.

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

Institutional Trading of Grid Dynamics

Several institutional investors have recently added to or reduced their stakes in GDYN. Wellington Management Group LLP boosted its holdings in shares of Grid Dynamics by 113.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after buying an additional 789,373 shares during the period. Wasatch Advisors LP grew its holdings in shares of Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after purchasing an additional 357,785 shares during the last quarter. Fourth Sail Capital LP bought a new position in shares of Grid Dynamics during the fourth quarter valued at approximately $4,614,000. G2 Investment Partners Management LLC bought a new stake in shares of Grid Dynamics in the 4th quarter worth approximately $2,234,000. Finally, Lord Abbett & CO. LLC boosted its position in Grid Dynamics by 42.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after purchasing an additional 142,446 shares during the period. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

GDYN has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd. Citigroup cut their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Cantor Fitzgerald raised their price objective on 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 target price on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.75.

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.