Grid Dynamics (NASDAQ:GDYN) Stock: Insider Yury Gryzlov Sells 4,849 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 4,849 shares of the business’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $8.00, for a total value of $38,792.00. Following the transaction, the chief operating officer owned 495,290 shares in the company, valued at $3,962,320. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, October 2nd, Yury Gryzlov sold 1,245 shares of Grid Dynamics stock. The stock was sold at an average price of $8.46, for a total value of $10,532.70.
• On Thursday, September 3rd, Yury Gryzlov sold 3,918 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total value of $31,344.00.
• 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 value of $31,440.00.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $7.95 on Friday. Grid Dynamics Holdings, Inc. has a one year low of $5.11 and a one year high of $10.21. The stock has a fifty day moving average price of $7.82 and a 200 day moving average price of $6.71. The stock has a market cap of $644.98 million, a P/E ratio of 397.70 and a beta of 0.97.

Grid Dynamics (NASDAQ:GDYN) 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 for the quarter, compared to analyst estimates of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.20 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 3,122 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Grid Dynamics by 10.0% in the first quarter. Illinois Municipal Retirement Fund now owns 34,472 shares of the company’s stock worth $196,000 after acquiring an additional 3,143 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Grid Dynamics by 2.4% during the first quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock worth $1,846,000 after purchasing an additional 7,548 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Grid Dynamics by 9.0% during the fourth quarter. Rice Hall James & Associates LLC now owns 128,517 shares of the company’s stock valued at $1,161,000 after purchasing an additional 10,577 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Grid Dynamics during the second quarter valued at approximately $75,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC upped their price objective on Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their target price on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. TD Cowen boosted their price target on Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st. Finally, Zacks Research raised Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Grid Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Grid Dynamics Company Profile

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.