Grid Dynamics (NASDAQ:GDYN) Director Eric Benhamou Sells 54,845 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Eric Benhamou sold 54,845 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $13.50, for a total transaction of $740,407.50. Following the completion of the sale, the director owned 200,000 shares in the company, valued at $2,700,000. The trade was a 21.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Eric Benhamou also recently made the following trade(s):

• On Monday, November 9th, Eric Benhamou sold 389 shares of Grid Dynamics stock. The stock was sold at an average price of $13.30, for a total transaction of $5,173.70.

Grid Dynamics Trading Down 3.3%

Shares of GDYN stock traded down $0.45 on Thursday, reaching $13.38. 1,198,736 shares of the stock were exchanged, compared to its average volume of 1,719,246. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 148.67 and a beta of 0.88. The business’s 50 day moving average price is $9.03 and its 200 day moving average price is $7.18. Grid Dynamics Holdings, Inc. has a twelve month low of $5.11 and a twelve month high of $14.14.

Grid Dynamics (NASDAQ:GDYN) last posted 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. The company 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%. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GDYN. Needham & Company LLC increased their price objective on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. TD Cowen boosted their target price on Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Zacks Research downgraded Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Hold” and a consensus target price of $11.80.

Institutional Trading of Grid Dynamics

A number of large investors have recently made changes to their positions in GDYN. Russell Investments Group Ltd. increased its position in Grid Dynamics by 13.3% during the third quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock worth $3,774,000 after buying an additional 56,505 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Grid Dynamics by 13.2% in the third quarter. Fifth Third Bancorp now owns 22,594 shares of the company’s stock valued at $178,000 after acquiring an additional 2,640 shares during the period. Fulcrum Asset Management LLP grew its position 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 acquiring an additional 52,620 shares during the last quarter. Summit Creek Advisors LLC grew its position 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 acquiring an additional 56,661 shares during the last quarter. Finally, StoneX Group Inc. acquired a new position in shares of Grid Dynamics in the 3rd quarter valued at $120,000. 71.18% of the stock is owned by institutional investors and hedge funds.

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.