Insider Selling: Grid Dynamics (NASDAQ:GDYN) COO Sells 4,715 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 4,715 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $13.55, for a total value of $63,888.25. Following the transaction, the chief operating officer owned 480,063 shares of the company’s stock, valued at approximately $6,504,853.65. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yury Gryzlov also recently made the following trade(s):

• On Friday, October 30th, Yury Gryzlov sold 10,512 shares of Grid Dynamics stock. The stock was sold at an average price of $10.51, for a total transaction of $110,481.12.
• On Thursday, October 8th, Yury Gryzlov sold 4,849 shares of Grid Dynamics stock. The shares were sold at an average price of $8.00, for a total transaction of $38,792.00.
• On Friday, October 2nd, Yury Gryzlov sold 1,245 shares of Grid Dynamics stock. The shares were sold at an average price of $8.46, for a total transaction of $10,532.70.
• On Thursday, September 3rd, Yury Gryzlov sold 3,918 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total value of $31,344.00.
• On Tuesday, August 18th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The stock was sold at an average price of $7.53, for a total value of $3,516.51.
• On Thursday, August 13th, Yury Gryzlov sold 3,930 shares of Grid Dynamics stock. The shares were sold at an average price of $8.00, for a total value of $31,440.00.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.32 during trading on Tuesday, hitting $13.37. 2,017,837 shares of the company’s stock were exchanged, compared to its average volume of 1,720,644. The business’s 50-day simple moving average is $8.24 and its 200 day simple moving average is $7.02. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 148.56 and a beta of 0.97. Grid Dynamics Holdings, Inc. has a 52-week low of $5.11 and a 52-week high of $14.02.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. The company had revenue of $114.29 million for the quarter, compared to analysts’ expectations of $112.77 million. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.20 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GDYN shares. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday. TD Cowen lifted their price target on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC increased their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday. Finally, Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Grid Dynamics currently has an average rating of “Hold” and an average target price of $11.80.

Institutional Trading of Grid Dynamics

Several hedge funds have recently made changes to their positions in GDYN. PNC Financial Services Group Inc. grew its position in Grid Dynamics by 60.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after acquiring an additional 3,122 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Grid Dynamics during the second quarter valued at approximately $75,000. FNY Investment Advisers LLC purchased a new stake in Grid Dynamics during the second quarter valued at approximately $99,000. Vise Technologies Inc. bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $103,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $167,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.