Grid Dynamics (NASDAQ:GDYN) COO Yury Gryzlov Sells 4,435 Shares

Key Points

• Grid Dynamics COO Yury Gryzlov sold 4,435 shares on June 1 at an average price of $8.00, totaling about $35,480. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still holds 514,948 shares.
• GDYN shares rose 9.2% on Monday to $7.86, with trading volume nearly 3.0 million shares versus an average of 1.69 million. The stock remains well below its 52-week high of $12.86.
• The company beat quarterly earnings expectations on April 30, reporting EPS of $0.09 versus the $0.08 consensus and revenue of $104.1 million. Analysts currently have a consensus rating of Hold with a $9.40 target price.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the sale, the chief operating officer owned 514,948 shares of the company's stock, valued at approximately $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, May 15th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The stock was sold at an average price of $6.45, for a total transaction of $3,012.15.
• On Thursday, April 2nd, Yury Gryzlov sold 1,245 shares of Grid Dynamics stock. The stock was sold at an average price of $5.54, for a total transaction of $6,897.30.

Grid Dynamics Trading Up 9.2%

Grid Dynamics stock traded up $0.66 during trading on Monday, hitting $7.86. The company had a trading volume of 2,957,184 shares, compared to its average volume of 1,690,291. The stock has a market cap of $657.33 million, a price-to-earnings ratio of 157.23 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1-year low of $5.13 and a 1-year high of $12.86. The company's 50 day simple moving average is $6.14 and its 200-day simple moving average is $7.49.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. As a group, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Grid Dynamics from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group cut Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 target price for the company. in a research note on Friday. JPMorgan Chase & Co. cut their price target on Grid Dynamics from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Northland Securities decreased their price objective on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating for the company in a research note on Monday, March 9th. Finally, Citigroup reissued a "cautious" rating on shares of Grid Dynamics in a research report on Friday. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.40.

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in GDYN. Bank of America Corp DE grew its stake in Grid Dynamics by 76.4% during the 1st quarter. Bank of America Corp DE now owns 364,342 shares of the company's stock worth $2,077,000 after buying an additional 157,767 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Grid Dynamics by 460.4% in the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company's stock valued at $1,176,000 after buying an additional 169,477 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Grid Dynamics in the first quarter valued at approximately $235,000. Walleye Capital LLC purchased a new position in shares of Grid Dynamics during the first quarter worth approximately $1,007,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Grid Dynamics by 60.1% during the first quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company's stock worth $47,000 after acquiring an additional 3,122 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

About Grid Dynamics

Grid Dynamics NASDAQ: GDYN is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.

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