Grid Dynamics (NASDAQ:GDYN) Stock: Insider Lloyd Carney Sells 15,156 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 15,156 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $13.39, for a total transaction of $202,938.84. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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 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 Stock Up 5.7%

Shares of GDYN stock opened at $14.06 on Wednesday. The company’s fifty day simple moving average is $8.91 and its two-hundred day simple moving average is $7.15. Grid Dynamics Holdings, Inc. has a 52 week low of $5.11 and a 52 week high of $14.07. The stock has a market cap of $1.13 billion, a P/E ratio of 156.22 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. On average, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current fiscal year.

More Grid Dynamics News

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

• Positive Sentiment: Grid Dynamics was highlighted among stocks showing recent price strength alongside improving earnings estimates, which may be reinforcing investor momentum. Zacks article
• Positive Sentiment: Recent analyst actions included price-target increases from TD Cowen, Needham and JPMorgan, with each maintaining a positive rating. The company’s latest reported quarterly EPS and revenue also topped consensus estimates, providing a fundamental backdrop for the stock’s strength.
• Neutral Sentiment: A report listed short interest at zero shares, suggesting no reported short position to drive potential short-covering. The article’s claim of a significant increase conflicts with that zero figure, so the data should be treated cautiously.
• Negative Sentiment: Director Lloyd Carney reported multiple stock sales, and CFO Anil Doradla sold 1,500 shares. The CFO’s sale was made under a prearranged Rule 10b5-1 plan, and both executives retained substantial holdings; still, insider selling may temper sentiment. Director SEC filing CFO SEC filing
• Negative Sentiment: The reported analyst consensus target of $11.80 is below the recent trading level, a possible valuation headwind despite several firms’ target hikes.

Analyst Ratings Changes

GDYN has been the subject of several research analyst reports. Zacks Research cut Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Wall Street Zen raised Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Finally, Needham & Company LLC increased their target price on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.80.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock valued at $47,000 after purchasing an additional 3,122 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Grid Dynamics during the 2nd quarter valued at $75,000. FNY Investment Advisers LLC bought a new stake in Grid Dynamics in the second quarter worth $99,000. Vise Technologies Inc. bought a new stake in Grid Dynamics in the third quarter worth $103,000. Finally, StoneX Group Inc. bought a new stake in shares of Grid Dynamics in the 3rd quarter worth about $120,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc. is a digital engineering and technology consulting company that helps businesses develop and modernize software, data platforms and digital products. Its services include cloud and data engineering, artificial intelligence and machine learning, application development, and digital commerce solutions. The company works with clients across industries to support technology strategy and implementation, including the design, development and operation of digital systems. Grid Dynamics was founded in 2006 and is headquartered in San Ramon, California, with delivery and client operations spanning North America, Europe and Asia.