Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz Sells 15,000 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the sale, the chief executive officer now owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 24th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was sold at an average price of $13.73, for a total value of $205,950.00.
• 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 value of $195,300.00.
• On Tuesday, July 16th, Leonard Livschitz sold 10,000 shares of Grid Dynamics stock. The shares were sold at an average price of $11.63, for a total value of $116,300.00.

Grid Dynamics Stock Performance

NASDAQ GDYN traded down $0.35 during trading on Wednesday, reaching $14.55. 199,259 shares of the company’s stock were exchanged, compared to its average volume of 333,270. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $15.11. The stock has a market cap of $1.11 billion, a P/E ratio of 496.67 and a beta of 1.06. The company has a 50 day moving average price of $13.71 and a two-hundred day moving average price of $11.74.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC lifted its position in Grid Dynamics by 42.3% in the first quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after acquiring an additional 142,446 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Grid Dynamics by 43.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock valued at $7,429,000 after purchasing an additional 182,052 shares during the period. Comerica Bank grew its stake in Grid Dynamics by 198.8% during the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock worth $956,000 after buying an additional 51,778 shares during the last quarter. Vanguard Group Inc. grew its stake in Grid Dynamics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock worth $51,643,000 after buying an additional 64,300 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after buying an additional 357,785 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Grid Dynamics Company Profile

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.