Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Sells 10,000 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $10.68, for a total value of $106,800.00. Following the completion of the sale, the chief executive officer now owns 3,605,901 shares of the company’s stock, valued at approximately $38,511,022.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 transaction of $105,400.00.
• On Tuesday, April 9th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The stock was 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 stock was 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 stock was sold at an average price of $13.08, for a total value of $196,200.00.

Grid Dynamics Stock Performance

GDYN stock traded down $0.48 during midday trading on Thursday, reaching $10.52. 363,579 shares of the company traded hands, compared to its average volume of 316,703. The firm has a market capitalization of $799.20 million, a price-to-earnings ratio of 350.78 and a beta of 1.00. Grid Dynamics Holdings, Inc. has a 52-week low of $8.05 and a 52-week high of $14.70. The business has a 50 day moving average of $11.56 and a 200-day moving average of $12.32.

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

Hedge Funds Weigh In On Grid Dynamics

A number of large investors have recently made changes to their positions in GDYN. International Assets Investment Management LLC purchased a new stake in Grid Dynamics in the 4th quarter worth about $26,000. ProShare Advisors LLC bought a new stake in shares of Grid Dynamics during the 1st quarter worth approximately $124,000. SG Americas Securities LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter worth approximately $142,000. American Trust boosted its holdings in Grid Dynamics by 10.1% during the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after acquiring an additional 1,186 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new position in Grid Dynamics in the 3rd quarter valued at $166,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GDYN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald lifted their target price on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Citigroup cut their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grid Dynamics has an average rating of “Buy” and an average price target of $15.75.

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.