Characterizing the dynamics of time-evolving data within the framework of topological data analysis (TDA) has been attracting increasingly more attention. Popular instances of time-evolving data include flocking/swarming behaviors in animals and social networks in the human sphere. A natural mathematical model for such collective behaviors is a dynamic point cloud, or more generally a dynamic metric space (DMS). In this paper we extend the Rips filtration stability result for (static) metric spaces to the setting of DMSs. We do this by devising a certain three-parameter spatiotemporal filtration of a DMS. Applying the homology functor to this filtration gives rise to multidimensional persistence module derived from the DMS. We show that this multidimensional module enjoys stability under a suitable generalization of the Gromov-Hausdorff distance which permits metrizing the collection of all DMSs. On the other hand, it is recognized that, in general, comparing two multidimensional persistence modules leads to intractable computational problems. For the purpose of practical comparison of DMSs, we focus on both the rank invariant or the dimension function of the multidimensional persistence module that is derived from a DMS. We specifically propose to utilize a certain metric d for comparing these invariants: In our work this d is either (1) a certain generalization of the erosion distance by Patel, or (2) a specialized version of the well known interleaving distance. We also study the computational complexity associated to both choices of d.