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

Key Points

• Director Eric Benhamou sold 54,845 Grid Dynamics shares at an average price of $13.50, worth about $740,408. After the sale, he held 200,000 shares, a 21.52% reduction in his ownership.
• Grid Dynamics reported quarterly earnings of $0.18 per share, beating the $0.13 consensus estimate, and revenue of $114.29 million, above estimates of $112.77 million.
• Analyst views were mixed: the stock had an average rating of “Hold” and an average price target of $11.80, while shares recently traded at $13.38.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) Director Eric Benhamou sold 54,845 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $13.50, for a total value of $740,407.50. Following the transaction, the director owned 200,000 shares of the company's stock, valued at approximately $2,700,000. This represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 value of $5,173.70.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.45 during midday trading on Thursday, reaching $13.38. 1,198,736 shares of the company's stock were exchanged, compared to its average volume of 1,719,246. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 148.67 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $14.14. The firm's 50 day simple moving average is $9.03 and its two-hundred day simple moving average is $7.18.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. Equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GDYN shares. JPMorgan Chase & Co. boosted their price objective on Grid Dynamics from $8.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Zacks Research cut Grid Dynamics from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 15th. TD Cowen lifted their target price on Grid Dynamics from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Finally, Wall Street Zen upgraded shares of Grid Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bastion Asset Management Inc. acquired a new stake in Grid Dynamics in the 1st quarter valued at about $6,899,000. 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 buying an additional 56,661 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of 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 in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Grid Dynamics during the second quarter worth approximately $2,702,000. Finally, Bank of America Corp DE increased its stake in shares of Grid Dynamics by 76.4% during the first 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 period. 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.

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