Grid Dynamics (NASDAQ:GDYN) Stock: Insider Yury Gryzlov Sells 4,715 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 4,715 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $13.55, for a total transaction of $63,888.25. Following the sale, the chief operating officer directly owned 480,063 shares in the company, valued at $6,504,853.65. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 transaction 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 transaction of $3,516.51.
• On Thursday, August 13th, Yury Gryzlov sold 3,930 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total transaction of $31,440.00.

Grid Dynamics Stock Performance

Shares of GDYN opened at $13.75 on Thursday. The stock has a fifty day moving average of $8.46 and a two-hundred day moving average of $7.06. The company has a market capitalization of $1.12 billion, a PE ratio of 63.67 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $14.02.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million for the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. As a group, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GDYN. Zacks Research lowered shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. 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 report on Friday, October 30th. Needham & Company LLC upped their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research note on Thursday, October 29th. Finally, TD Cowen boosted their price objective on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.80.

Hedge Funds Weigh In On Grid Dynamics

Several large investors have recently added to or reduced their stakes in GDYN. Fulcrum Asset Management LLP raised its stake in Grid Dynamics by 62,642.9% during the third quarter. Fulcrum Asset Management LLP now owns 52,704 shares of the company’s stock worth $403,000 after acquiring an additional 52,620 shares during the period. Summit Creek Advisors LLC lifted its holdings in Grid Dynamics by 13.1% in the third quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock worth $3,848,000 after acquiring an additional 56,661 shares during the last quarter. StoneX Group Inc. acquired a new position in Grid Dynamics in the third quarter valued at approximately $120,000. Calamos Advisors LLC acquired a new position in Grid Dynamics in the third quarter valued at approximately $185,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Grid Dynamics during the third quarter valued at approximately $262,000. 71.18% of the stock is currently owned by 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.