Grid Dynamics (NASDAQ:GDYN) COO Sells $35,480.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 4,435 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the sale, the chief operating officer directly owned 514,948 shares of the company’s stock, valued at $4,119,584. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 15th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The shares were sold at an average price of $6.45, for a total value of $3,012.15.
• On Thursday, April 2nd, Yury Gryzlov sold 1,245 shares of Grid Dynamics stock. The shares were sold at an average price of $5.54, for a total value of $6,897.30.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $7.04 on Thursday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $12.86. The company has a market capitalization of $588.76 million, a P/E ratio of 140.83 and a beta of 0.94. The stock has a 50-day simple moving average of $6.23 and a 200-day simple moving average of $7.47.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The business had revenue of $104.10 million during the quarter, compared to the consensus estimate of $103.32 million. During the same period in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Grid Dynamics by 271.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company’s stock worth $3,960,000 after purchasing an additional 375,254 shares during the period. CenterBook Partners LP increased its position in Grid Dynamics by 255.1% during the 3rd quarter. CenterBook Partners LP now owns 1,094,701 shares of the company’s stock worth $8,440,000 after purchasing an additional 786,384 shares during the period. Quantbot Technologies LP increased its position in Grid Dynamics by 1,435.4% during the 3rd quarter. Quantbot Technologies LP now owns 106,005 shares of the company’s stock worth $817,000 after purchasing an additional 99,101 shares during the period. Vanguard Group Inc. increased its position in Grid Dynamics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after purchasing an additional 279,995 shares during the period. Finally, P.A.W. Capital Corp acquired a new position in Grid Dynamics during the 4th quarter worth approximately $903,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Northland Securities reduced their price objective on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. TD Cowen reduced their price objective on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group downgraded Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.40.

Grid Dynamics Company Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.