Insider Selling: Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Sells $192,309.96 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 10,306 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $18.42 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 460.50 and a beta of 1.10. The stock’s fifty day moving average price is $21.37 and its 200 day moving average price is $18.06.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds have recently added to or reduced their stakes in GDYN. Royce & Associates LP boosted its holdings in Grid Dynamics by 5.9% in the third quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after purchasing an additional 44,720 shares during the last quarter. Quest Partners LLC boosted its holdings in Grid Dynamics by 35,544.7% in the third quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock valued at $235,000 after purchasing an additional 16,706 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Grid Dynamics during the 3rd quarter worth about $153,000. Charles Schwab Investment Management Inc. grew its position in shares of Grid Dynamics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after acquiring an additional 13,785 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the 3rd quarter valued at about $122,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.17.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.