Insider Selling: Grid Dynamics (NASDAQ:GDYN) Director Sells $202,938.84 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 15,156 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $13.39, for a total transaction of $202,938.84. Following the completion of the transaction, the director owned 677,130 shares of the company’s stock, valued at approximately $9,066,770.70. The trade was a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Friday, November 6th, Lloyd Carney sold 39,505 shares of Grid Dynamics stock. The shares were sold at an average price of $13.15, for a total transaction of $519,490.75.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $13.83 on Thursday. The company’s fifty day moving average price is $9.03 and its 200 day moving average price is $7.18. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $14.14. The firm has a market capitalization of $1.11 billion, a P/E ratio of 153.67 and a beta of 0.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GDYN. Russell Investments Group Ltd. raised its holdings in shares of Grid Dynamics by 13.3% in the third quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock valued at $3,774,000 after buying an additional 56,505 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Grid Dynamics by 13.2% during the third quarter. Fifth Third Bancorp now owns 22,594 shares of the company’s stock worth $178,000 after buying an additional 2,640 shares during the period. Fulcrum Asset Management LLP boosted its stake in shares of 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 buying an additional 52,620 shares during the period. Summit Creek Advisors LLC boosted its stake in shares of Grid Dynamics by 13.1% during the third quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock worth $3,848,000 after buying an additional 56,661 shares during the period. Finally, StoneX Group Inc. purchased a new position in shares of Grid Dynamics during the third quarter worth about $120,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday, October 29th. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Needham & Company LLC lifted their price target on Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Zacks Research cut Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Finally, TD Cowen boosted their price objective on 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.80.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc. is a digital engineering and technology consulting company that helps businesses develop and modernize software, data platforms and digital products. Its services include cloud and data engineering, artificial intelligence and machine learning, application development, and digital commerce solutions. The company works with clients across industries to support technology strategy and implementation, including the design, development and operation of digital systems. Grid Dynamics was founded in 2006 and is headquartered in San Ramon, California, with delivery and client operations spanning North America, Europe and Asia.