Grid Dynamics (NASDAQ:GDYN) Director Lloyd Carney Sells 39,505 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 39,505 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $13.15, for a total value of $519,490.75. Following the sale, the director directly owned 637,625 shares of the company’s stock, valued at approximately $8,384,768.75. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lloyd Carney also recently made the following trade(s):

• On Friday, November 6th, Lloyd Carney sold 12,542 shares of Grid Dynamics stock. The shares were sold at an average price of $13.16, for a total transaction of $165,052.72.
• On Thursday, November 5th, Lloyd Carney sold 15,156 shares of Grid Dynamics stock. The shares were sold at an average price of $13.39, for a total transaction of $202,938.84.

Grid Dynamics Stock Performance

GDYN traded up $0.20 during trading on Monday, hitting $13.30. The stock had a trading volume of 1,292,927 shares, compared to its average volume of 1,718,705. The firm has a market capitalization of $1.08 billion, a P/E ratio of 147.78 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a twelve month low of $5.11 and a twelve month high of $14.02. The company’s 50-day moving average price is $8.68 and its 200 day moving average price is $7.10.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. As a group, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GDYN shares. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. Wall Street Zen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Zacks Research lowered shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Finally, Needham & Company LLC lifted their price objective on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.80.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after acquiring an additional 157,767 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Grid Dynamics in the 1st quarter valued at $884,000. Walleye Capital LLC acquired a new stake in Grid Dynamics in the 1st quarter valued at $1,007,000. Quantinno Capital Management LP increased its holdings in Grid Dynamics by 460.4% in the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after purchasing an additional 169,477 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Grid Dynamics in the second quarter valued at about $2,702,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.