Grid Dynamics (NASDAQ:GDYN) COO Sells 3,918 Shares

Key Points

• Grid Dynamics COO Yury Gryzlov sold 3,918 shares at an average price of $8.00, generating $31,344; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.77%.
• GDYN shares rose 4.5% to $8.20, while the company recently reported quarterly EPS of $0.11 and revenue of $108.16 million, both slightly above analyst expectations.
• Analysts have a consensus “Moderate Buy” rating and a $9.40 target price; institutional investors and hedge funds own 71.18% of the stock.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) COO Yury Gryzlov sold 3,918 shares of Grid Dynamics stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $8.00, for a total value of $31,344.00. Following the sale, the chief operating officer directly owned 503,070 shares in the company, valued at $4,024,560. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Tuesday, August 18th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The shares were sold at an average price of $7.53, for a total value of $3,516.51.
• On Thursday, August 13th, Yury Gryzlov sold 3,930 shares of Grid Dynamics stock. The shares were sold at an average price of $8.00, for a total transaction of $31,440.00.
• On Thursday, July 2nd, Yury Gryzlov sold 1,245 shares of Grid Dynamics stock. The stock was sold at an average price of $6.29, for a total transaction of $7,831.05.

Grid Dynamics Trading Up 4.5%

NASDAQ:GDYN traded up $0.35 during mid-day trading on Thursday, hitting $8.20. 936,996 shares of the company's stock were exchanged, compared to its average volume of 1,829,086. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.21. The firm has a market capitalization of $665.27 million, a P/E ratio of 410.21 and a beta of 0.89. The company has a 50 day simple moving average of $6.76 and a 200-day simple moving average of $6.46.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $108.16 million during the quarter, compared to analysts' expectations of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. As a group, analysts expect that Grid Dynamics Holdings, Inc. will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GDYN shares. Jefferies Financial Group cut Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 price target for the company. in a research note on Friday, May 29th. Zacks Research upgraded shares of Grid Dynamics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Citigroup reaffirmed a "cautious" rating on shares of Grid Dynamics in a research note on Friday, May 29th. TD Cowen boosted their target price on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.40.

Institutional Investors Weigh In On Grid Dynamics

A number of large investors have recently bought and sold shares of GDYN. Hantz Financial Services Inc. boosted its position in shares of Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company's stock worth $29,000 after purchasing an additional 2,057 shares in the last quarter. Quarry LP increased its position in Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company's stock valued at $37,000 after buying an additional 1,757 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Grid Dynamics in the 2nd quarter valued at about $43,000. PNC Financial Services Group Inc. raised its stake in Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company's stock worth $47,000 after buying an additional 3,122 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Grid Dynamics by 208.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company's stock worth $72,000 after buying an additional 4,197 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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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