Insider Selling: 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 shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at $47,724,120.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were sold at an average price of $10.38, for a total value of $103,800.00.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $14.05 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $14.70. The stock has a market capitalization of $1.08 billion, a PE ratio of 468.49 and a beta of 1.06. The business’s 50-day moving average is $13.46 and its 200 day moving average is $11.67.

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

Institutional Investors Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently modified their holdings of the stock. Olympiad Research LP purchased a new stake in Grid Dynamics in the fourth quarter worth about $211,000. CenterBook Partners LP purchased a new stake in Grid Dynamics in the fourth quarter worth about $651,000. Wasatch Advisors LP grew its holdings in Grid Dynamics by 2.8% in the fourth quarter. Wasatch Advisors LP now owns 7,256,928 shares of the company’s stock worth $96,735,000 after purchasing an additional 197,063 shares during the period. G2 Investment Partners Management LLC bought a new position in shares of Grid Dynamics during the fourth quarter valued at approximately $2,234,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Grid Dynamics by 6.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 84,379 shares of the company’s stock valued at $1,125,000 after purchasing an additional 5,328 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.