Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Sells $205,950.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at $47,724,120.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, August 13th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was sold at an average price of $13.02, for a total transaction of $195,300.00.
• On Tuesday, July 16th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00.
• On Tuesday, July 2nd, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00.

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.08 on Wednesday, hitting $13.72. The company had a trading volume of 221,212 shares, compared to its average volume of 340,320. The company has a market capitalization of $1.05 billion, a PE ratio of 464.82 and a beta of 1.06. The company’s fifty day moving average price is $13.34 and its 200-day moving average price is $11.63. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $83.04 million during the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS.

Analysts Set New Price Targets

Several analysts have commented on GDYN shares. JPMorgan Chase & Co. lifted their price objective on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. Citigroup decreased their price objective on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC lifted their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.67.

Institutional Investors Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in shares of Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after buying an additional 1,770 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Grid Dynamics during the first quarter worth $124,000. Hsbc Holdings PLC purchased a new stake in shares of Grid Dynamics during the second quarter worth $117,000. XTX Topco Ltd purchased a new stake in shares of Grid Dynamics during the second quarter worth $129,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Grid Dynamics during the second quarter worth $141,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.