Grid Dynamics (NASDAQ:GDYN) COO Yury Gryzlov Sells 10,512 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 10,512 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the sale, the chief operating officer directly owned 484,778 shares of the company’s stock, valued at $5,095,016.78. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 8th, Yury Gryzlov sold 4,849 shares of Grid Dynamics stock. The stock was sold at an average price of $8.00, for a total transaction of $38,792.00.
• 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 transaction 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 transaction 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 transaction 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.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $13.36 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 148.44 and a beta of 0.97. Grid Dynamics Holdings, Inc. has a 1 year low of $5.11 and a 1 year high of $13.39. The firm has a 50-day moving average of $8.12 and a two-hundred day moving average of $6.99.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $114.29 million during the quarter, compared to the consensus estimate of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.23%. Research analysts expect that Grid Dynamics Holdings, Inc. will post 0.20 earnings per share for the current year.

Grid Dynamics News Roundup

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Grid Dynamics reported adjusted earnings of $0.18 per share, above the $0.12–$0.13 consensus range and up from $0.09 a year earlier. Revenue reached $114.29 million, topping the $112.77 million estimate. Grid Dynamics Q3 earnings report
• Positive Sentiment: Record quarterly performance and constructive guidance supported the rally. Company coverage characterized the quarter as a record result, while management’s outlook for the next quarter was described as optimistic, reinforcing expectations for continued growth. Grid Dynamics record third-quarter results
• Positive Sentiment: TD Cowen raised its price target and initiated a Buy recommendation. The firm increased its target from $9 to $13, signaling improved confidence in Grid Dynamics’ earnings and growth prospects. TD Cowen analyst recommendation
• Positive Sentiment: The company launched a business process consulting practice. The new offering could broaden Grid Dynamics’ services and create additional opportunities to win enterprise transformation work. Grid Dynamics consulting practice launch
• Neutral Sentiment: Despite the Buy rating, TD Cowen’s $13 target is slightly below the stock’s current trading level, indicating that much of the near-term optimism may already be reflected in the shares.
• Negative Sentiment: Grid Dynamics remains richly valued relative to reported profitability, with a very high price-to-earnings ratio and a net margin below 1%, leaving the stock sensitive to any slowdown in growth or weaker future guidance.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds have recently made changes to their positions in GDYN. Bastion Asset Management Inc. bought a new position in Grid Dynamics in the first quarter worth about $6,899,000. Squarepoint Ops LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $2,702,000. Summit Creek Advisors LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $2,452,000. Bank of America Corp DE boosted its holdings in shares of Grid Dynamics by 76.4% in the 1st quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after buying an additional 157,767 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Grid Dynamics by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock worth $1,846,000 after buying an additional 7,548 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen lifted their price objective on Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.80.

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.