Insider Selling: Grid Dynamics (NASDAQ:GDYN) Director Sells 15,156 Shares of Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 15,156 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $13.39, for a total transaction of $202,938.84. Following the completion of the sale, the director directly owned 677,130 shares of the company’s stock, valued at $9,066,770.70. The trade was a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 Friday, November 6th, Lloyd Carney sold 39,505 shares of Grid Dynamics stock. The stock was sold at an average price of $13.15, for a total transaction of $519,490.75.

Grid Dynamics Price Performance

NASDAQ:GDYN traded up $0.20 during mid-day trading on Monday, reaching $13.30. The stock had a trading volume of 1,292,927 shares, compared to its average volume of 1,718,705. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 147.78 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 1-year low of $5.11 and a 1-year high of $14.02. The stock’s 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $7.10.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The firm had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on GDYN. Wall Street Zen raised Grid Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen lifted their price objective on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, October 30th. JPMorgan Chase & Co. boosted their target price 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. Finally, Zacks Research cut shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of “Hold” and a consensus price target of $11.80.

Hedge Funds Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the company. Bastion Asset Management Inc. bought a new position in shares of Grid Dynamics during the first quarter worth about $6,899,000. Squarepoint Ops LLC bought a new stake in Grid Dynamics in the 2nd quarter valued at about $2,702,000. Summit Creek Advisors LLC bought a new stake in Grid Dynamics in the 2nd quarter valued at about $2,452,000. Walleye Capital LLC acquired a new position in Grid Dynamics during the 1st quarter valued at about $1,007,000. Finally, Quantinno Capital Management LP boosted its stake in Grid Dynamics by 460.4% during 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 during the period. 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.