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Yury Gryzlov, Chief Operating Officer of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN), a $1.1 billion market cap technology company with strong financial health and more cash than debt on its balance sheet, recently sold 2,000 shares of the company's common stock. The shares were sold at a price of $13.97 each, amounting to a total transaction value of $27,940. Following the sale, Gryzlov retains ownership of 476,269 shares in the company. This transaction was conducted under a Rule 10b5-1 trading plan, which Gryzlov adopted on November 21, 2024. The stock, currently trading near InvestingPro's Fair Value estimate, has declined over 33% year-to-date despite maintaining healthy liquidity ratios. Discover more insights about GDYN's insider trading patterns and 13 additional ProTips with InvestingPro.
In other recent news, Grid Dynamics Holdings reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.12 surpassing the consensus estimate of $0.10. The company also reported revenue of $100.3 million, which exceeded projections of $96.1 million and marked a 28.5% year-over-year increase. Grid Dynamics provided an optimistic outlook for 2025, expecting first-quarter revenue between $98 million and $100 million, above the $95 million consensus, and full-year revenue guidance of $415 million to $435 million, surpassing analyst estimates of $409 million.
Needham analysts responded to these strong results by raising their price target on Grid Dynamics shares to $30, up from $25, while maintaining a Buy rating. The analysts highlighted the company's robust organic demand and effective execution, which contributed to a strong quarter. Additionally, Grid Dynamics announced strategic executive appointments, with Dr. Eugene Steinberg set to become Chief Technology Officer and Rajeev Sharma transitioning to Managing Partner of the Asia-Pacific region. These changes are part of the company's growth strategy focused on geo-scalability and innovation.
CEO Leonard Livschitz praised the company's record revenues and profitability, noting the significant milestone of $100 million in quarterly revenues. The company's AI initiatives have also shown success, with a 30% increase in AI project opportunities from the previous quarter.
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