Anil Doradla, the Chief Financial Officer of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN), recently executed a sale of company shares. According to a recent SEC filing, Doradla sold 3,000 shares of common stock on December 9, 2024, at a price of $19.08 per share, totaling approximately $57,239. The transaction comes as Grid Dynamics, with a market capitalization of $1.66 billion, trades near its 52-week high of $20.34. Following this transaction, Doradla holds 373,282 shares of Grid Dynamics. This sale was conducted under a Rule 10b5-1 trading plan, which Doradla adopted on August 30, 2023. The company has demonstrated remarkable momentum, posting a 105% return over the past six months. InvestingPro analysis reveals 13 additional key insights about Grid Dynamics' performance and valuation, available in the comprehensive Pro Research Report.
In other recent news, Grid Dynamics Holdings has been the subject of positive analyst attention, with TD Cowen maintaining a Buy rating and raising the stock's price target to $22.00, up from $19.00. This decision was influenced by the company's robust Q3 2024 performance, which exceeded revenue and EBITDA estimates by 3% and 15%, respectively. The company's revenue hit a record $87.4 million, and Non-GAAP EBITDA registered at $14.8 million.
Grid Dynamics also announced plans to launch a public offering of 5 million shares, with an additional option for underwriters to purchase up to 750,000 shares within a 30-day period. The offering is contingent on market conditions and other factors, with J.P. Morgan Securities LLC, William Blair & Company, L.L.C., and TD Cowen serving as joint book-running managers.
Furthermore, the company's growth prospects are underpinned by a diverse geographical footprint, strategic partnerships with major cloud service providers, and an active pipeline for mergers and acquisitions. The company successfully completed acquisitions of Mobile Computing and JUXT, thereby boosting its digital transformation and financial services offerings.
Looking ahead, Grid Dynamics anticipates positive Q4 revenues between $95 million and $97 million, with acquisitions projected to contribute 10% to this revenue. These are among the recent developments for the company.
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