Grid Dynamics (NASDAQ:GDYN) Stock Price Down 4.8% - Should You Sell?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report)'s stock price fell 4.8% during mid-day trading on Thursday . The stock traded as low as $11.45 and last traded at $11.47. 78,211 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 674,243 shares. The stock had previously closed at $12.05.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GDYN. Needham & Company LLC raised their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen raised Grid Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Grid Dynamics presently has an average rating of "Buy" and an average target price of $18.75.

Grid Dynamics Price Performance

The company's 50 day moving average is $12.57 and its two-hundred day moving average is $16.40. The firm has a market cap of $898.77 million, a P/E ratio of 88.59 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The business had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's revenue was up 25.8% on a year-over-year basis. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling at Grid Dynamics

In related news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the sale, the chief operating officer owned 474,269 shares in the company, valued at approximately $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 6,737 shares of company stock valued at $84,251 in the last three months. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in Grid Dynamics by 824.9% during the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock worth $13,821,000 after purchasing an additional 554,275 shares during the period. New York State Teachers Retirement System lifted its stake in Grid Dynamics by 35.1% during the first quarter. New York State Teachers Retirement System now owns 17,903 shares of the company's stock worth $280,000 after purchasing an additional 4,656 shares during the period. Illinois Municipal Retirement Fund bought a new position in Grid Dynamics during the first quarter worth about $546,000. SG Americas Securities LLC lifted its stake in Grid Dynamics by 426.8% during the first quarter. SG Americas Securities LLC now owns 57,363 shares of the company's stock worth $898,000 after purchasing an additional 46,475 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Grid Dynamics by 3.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 91,624 shares of the company's stock worth $1,434,000 after purchasing an additional 3,209 shares during the period. Institutional investors own 71.18% of the company's stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.