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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the transaction, the chief executive officer now directly owns 3,460,901 shares in the company, valued at $50,390,718.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction of $205,950.00.
• On Tuesday, August 13th, Leonard Livschitz sold 15,000 shares of Grid Dynamics stock. The shares were 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 stock was sold at an average price of $11.63, for a total value of $116,300.00.

Grid Dynamics Stock Down 2.3 %

Shares of NASDAQ GDYN traded down $0.35 during midday trading on Wednesday, hitting $14.55. The company had a trading volume of 199,259 shares, compared to its average volume of 333,270. The business has a 50-day simple moving average of $13.71 and a two-hundred day simple moving average of $11.74. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $15.11. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 496.67 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results 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. The business had revenue of $83.04 million for the quarter, compared to analysts’ expectations of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GDYN. Fourth Sail Capital LP increased its holdings in Grid Dynamics by 138.0% during the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after acquiring an additional 446,477 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Grid Dynamics by 26.7% in the fourth quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after purchasing an additional 396,320 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares in the last quarter. Summit Creek Advisors LLC increased its stake in shares of Grid Dynamics by 25.1% during the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock worth $12,065,000 after purchasing an additional 230,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after purchasing an additional 206,201 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GDYN. JPMorgan Chase & Co. upped their price target on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Needham & Company LLC raised their target price 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 shares of Grid Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Citigroup cut their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.