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Leonard Livschitz, the Chief Executive Officer of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN), recently sold 30,000 shares of the company’s common stock. The sale, executed on April 1, was part of a Rule 10b5-1 trading plan and amounted to a total of $468,300, with shares sold at an average price of $15.61. The transaction comes as the stock, currently trading at $14.15, has experienced a significant decline of over 36% year-to-date. According to InvestingPro data, analysts maintain a bullish outlook with price targets ranging from $24 to $30.
In addition to the sale, 35,901 shares were withheld to cover tax obligations related to restricted stock units, valued at approximately $557,183 at a price of $15.52 per share. Following these transactions, Livschitz holds 3,103,180 shares directly, with an additional 13,289 shares held indirectly by his spouse. The company, with a market capitalization of $1.19 billion, shows strong financial health with a current ratio of 7.62 and minimal debt relative to equity. InvestingPro subscribers can access 12 additional key insights about Grid Dynamics, including detailed valuation metrics and growth projections.
In other recent news, Grid Dynamics Holdings reported impressive fourth-quarter earnings, surpassing analyst expectations with adjusted earnings per share of $0.12 compared to the consensus estimate of $0.10. The company achieved revenue of $100.3 million, exceeding projections of $96.1 million and marking a 28.5% increase year-over-year. For the upcoming first quarter of 2025, Grid Dynamics anticipates revenue between $98 million and $100 million, above the $95 million consensus, and has set full-year 2025 revenue guidance at $415 million to $435 million, surpassing analyst estimates of $409 million.
Additionally, Needham analysts raised their price target for Grid Dynamics shares to $30, up from $25, while maintaining a Buy rating, following the company’s strong quarterly performance. The company’s robust results were attributed to increased demand across various industry verticals, particularly in the Finance sector, which showed significant growth. Grid Dynamics also announced strategic executive appointments, with Dr. Eugene Steinberg becoming the new Chief Technology Officer and Rajeev Sharma transitioning to Managing Partner of the Asia-Pacific region. These leadership changes are part of the company’s growth strategy, emphasizing geo-scalability and innovation.
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