SAN RAMON, Calif.—Leonard Livschitz, the Chief Executive Officer of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN), recently sold 25,000 shares of the company’s common stock. The shares were sold at a weighted average price of $18.20, generating a total transaction value of $455,000. This sale was conducted under a Rule 10b5-1 trading plan, which Livschitz adopted on September 1, 2023.
Following this transaction, Livschitz holds direct ownership of 3,360,901 shares. Additionally, he indirectly owns 4,694 shares, which are held by his spouse. The transaction was executed in multiple trades with prices ranging from $18.03 to $18.55. The stock has shown remarkable momentum, posting a 98% return over the past six months. InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report for deeper insights into Grid Dynamics' valuation and growth prospects.
In other recent news, Grid Dynamics Holdings, Inc. announced plans for a public offering of 5,000,000 shares of common stock, subject to market conditions and other factors. The company's recent performance exceeded expectations, with Q3 2024 revenue reaching a record $87.4 million and Non-GAAP EBITDA registering at $14.8 million, surpassing both revenue and EBITDA estimates. Following these robust results, TD Cowen raised its price target on the company's stock, maintaining a positive outlook.
Grid Dynamics' recent developments include the successful completion of Mobile Computing and JUXT acquisitions, which are expected to contribute to future growth. The company anticipates positive Q4 revenues between $95 million and $97 million, with acquisitions projected to contribute 10% to this revenue.
Grid Dynamics' strong third-quarter performance led TD Cowen to increase its price target on the company's stock to $19.00, up from the previous target of $16.00. The firm maintained a Buy rating, reflecting a positive outlook on the company's financial health and market position. These recent developments highlight Grid Dynamics' strong performance and promising outlook.
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