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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CFO Anil Doradla sold 20,000 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the chief financial officer directly owned 374,509 shares of the company’s stock, valued at approximately $3,936,089.59. This trade represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded up $3.87 during trading on Friday, hitting $13.36. 8,563,175 shares of the company’s stock were exchanged, compared to its average volume of 1,054,520. The business’s 50-day simple moving average is $8.12 and its 200 day simple moving average is $6.99. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 148.44 and a beta of 0.97. Grid Dynamics Holdings, Inc. has a 52-week low of $5.11 and a 52-week high of $13.39.

Grid Dynamics (NASDAQ:GDYN) last posted 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. Grid Dynamics had a return on equity of 3.23% and a net margin of 1.81%. The company had revenue of $114.29 million for the quarter, compared to analysts’ expectations of $112.77 million. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.20 EPS for the current fiscal year.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Grid Dynamics in the 3rd quarter worth approximately $262,000. Vise Technologies Inc. bought a new position in shares of Grid Dynamics during the 3rd quarter valued at approximately $103,000. Sequoia Financial Advisors LLC bought a new position in shares of Grid Dynamics during the 2nd quarter valued at approximately $75,000. Squarepoint Ops LLC bought a new position in shares of Grid Dynamics during the 2nd quarter valued at approximately $2,702,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Grid Dynamics in the second quarter valued at $234,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Key Stories Impacting 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GDYN. Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday. Needham & Company LLC raised their target price on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen raised their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research downgraded shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.