Grid Dynamics (NASDAQ:GDYN) Director Sells $202,938.84 in Stock

Key Points

• Director Lloyd Carney sold 15,156 Grid Dynamics shares for $202,938.84 at an average price of $13.39, reducing his stake by 2.19%; he retained 677,130 shares. The article also reports two additional recent sales by Carney.
• Grid Dynamics beat quarterly expectations, reporting $0.18 EPS versus the $0.13 consensus and revenue of $114.29 million versus $112.77 million expected.
• Analyst views were mixed: four rated the stock Buy, two Hold and two Sell, giving it a consensus Hold rating and an average price target of $11.80.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) Director Lloyd Carney sold 15,156 shares of the company's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $13.39, for a total value of $202,938.84. Following the completion of the sale, the director directly owned 677,130 shares of the company's stock, valued at $9,066,770.70. The trade was a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Lloyd Carney also recently made the following trade(s):

• On Friday, November 6th, Lloyd Carney sold 12,542 shares of Grid Dynamics stock. The shares were sold at an average price of $13.16, for a total value of $165,052.72.
• On Friday, November 6th, Lloyd Carney sold 39,505 shares of Grid Dynamics stock. The shares were sold at an average price of $13.15, for a total value of $519,490.75.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded up $0.20 during mid-day trading on Monday, hitting $13.30. 1,292,927 shares of the company traded hands, compared to its average volume of 1,718,705. The firm's 50 day simple moving average is $8.68 and its 200 day simple moving average is $7.10. The firm has a market cap of $1.08 billion, a P/E ratio of 147.78 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 52-week low of $5.11 and a 52-week high of $14.02.

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

Wall Street Analyst Weigh In

GDYN has been the subject of several analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Grid Dynamics in a research note on Thursday, October 29th. Wall Street Zen raised shares of Grid Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday. Zacks Research downgraded shares of Grid Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 15th. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, October 30th. Finally, TD Cowen upped their price objective on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Grid Dynamics presently has a consensus rating of "Hold" and an average target price of $11.80.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of GDYN. Bastion Asset Management Inc. acquired a new position in shares of Grid Dynamics in the 1st quarter valued at approximately $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 acquired 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% in 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 last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

About Grid Dynamics

Grid Dynamics Holdings, Inc NASDAQ: GDYN is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.

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