Insider Selling: Grid Dynamics (NASDAQ:GDYN) COO Sells 1,245 Shares of Stock

Key Points

• Grid Dynamics COO Yury Gryzlov sold 1,245 shares at an average price of $8.46, worth $10,532.70, under a pre-arranged Rule 10b5-1 trading plan. He retained 500,139 shares after the sale.
• GDYN shares fell 2.2% to $7.84, giving the company a market capitalization of approximately $636 million. The stock has traded between $5.11 and $10.21 over the past 52 weeks.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $9.40; the company also recently exceeded quarterly EPS and revenue estimates.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) COO Yury Gryzlov sold 1,245 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $8.46, for a total transaction of $10,532.70. Following the completion of the transaction, the chief operating officer directly owned 500,139 shares of the company's stock, valued at approximately $4,231,175.94. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yury Gryzlov also recently made the following trade(s):

• On Thursday, September 3rd, Yury Gryzlov sold 3,918 shares of Grid Dynamics stock. The shares were sold at an average price of $8.00, for a total transaction of $31,344.00.
• On Tuesday, August 18th, Yury Gryzlov sold 467 shares of Grid Dynamics stock. The stock was sold at an average price of $7.53, for a total transaction of $3,516.51.
• On Thursday, August 13th, Yury Gryzlov sold 3,930 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total value of $31,440.00.

Grid Dynamics Stock Down 2.2%

NASDAQ:GDYN traded down $0.18 during trading hours on Monday, hitting $7.84. 757,139 shares of the company's stock traded hands, compared to its average volume of 1,729,206. The firm has a market cap of $636.06 million, a P/E ratio of 392.20 and a beta of 0.97. The business's fifty day simple moving average is $7.69 and its two-hundred day simple moving average is $6.65. Grid Dynamics Holdings, Inc. has a 52 week low of $5.11 and a 52 week high of $10.21.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $108.16 million during the quarter, compared to the consensus estimate of $106.55 million. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On Grid Dynamics

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised 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 valued at $2,077,000 after acquiring an additional 157,767 shares during the last quarter. S Squared Technology LLC increased its holdings in Grid Dynamics by 109.3% during the 4th quarter. S Squared Technology LLC now owns 636,737 shares of the company's stock valued at $5,750,000 after purchasing an additional 332,499 shares during the period. Banco BTG Pactual S.A. purchased a new position in Grid Dynamics during the 4th quarter valued at about $2,574,000. Pacer Advisors Inc. bought a new position in Grid Dynamics during the 1st quarter valued at approximately $884,000. Finally, Walleye Capital LLC bought a new position in Grid Dynamics during the 1st quarter valued at approximately $1,007,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GDYN has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. TD Cowen raised their price objective on Grid Dynamics from $8.00 to $9.00 and gave the company a "buy" rating in a report on Friday, July 31st. Needham & Company LLC boosted their target price on Grid Dynamics from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Zacks Research upgraded shares of Grid Dynamics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Grid Dynamics in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Grid Dynamics has a consensus rating of "Moderate Buy" and an average target price of $9.40.

About Grid Dynamics

Grid Dynamics Holdings, Inc NASDAQ: GDYN is a digital engineering and technology services company that helps enterprises modernize their businesses through software development, cloud computing, data and analytics, and artificial intelligence. The company designs and builds technology platforms intended to improve operational efficiency, customer experiences, and the use of enterprise data.

Its services include digital commerce and customer experience solutions, cloud and data engineering, machine learning and artificial intelligence, application modernization, and software product development.

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