Grid Dynamics (NASDAQ:GDYN) Director Lloyd Carney Sells 15,156 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 15,156 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $13.39, for a total value of $202,938.84. Following the completion of the sale, the director owned 677,130 shares in the company, valued at approximately $9,066,770.70. This represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Grid Dynamics Trading Up 1.5%

GDYN opened at $13.30 on Tuesday. Grid Dynamics Holdings, Inc. has a 12-month low of $5.11 and a 12-month high of $14.02. The firm has a 50 day moving average of $8.79 and a two-hundred day moving average of $7.13. The firm has a market capitalization of $1.08 billion, a PE ratio of 65.48 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million for 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 3.24%. As a group, analysts predict that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. TD Cowen lifted their price objective on Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Wall Street Zen upgraded Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC boosted their price objective on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.80.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Grid Dynamics by 13.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock valued at $3,774,000 after purchasing an additional 56,505 shares in the last quarter. Fifth Third Bancorp grew its position in Grid Dynamics by 13.2% during the third quarter. Fifth Third Bancorp now owns 22,594 shares of the company’s stock valued at $178,000 after buying an additional 2,640 shares during the period. Fulcrum Asset Management LLP increased its holdings in Grid Dynamics by 62,642.9% in the third quarter. Fulcrum Asset Management LLP now owns 52,704 shares of the company’s stock valued at $403,000 after buying an additional 52,620 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in Grid Dynamics by 13.1% in the third quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock valued at $3,848,000 after buying an additional 56,661 shares in the last quarter. Finally, StoneX Group Inc. purchased a new position in Grid Dynamics in the third quarter valued at $120,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.