Grid Dynamics (NASDAQ:GDYN) Stock: Insider Lloyd Carney Sells 39,505 Shares

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Lloyd Carney sold 39,505 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $13.15, for a total transaction of $519,490.75. Following the sale, the director owned 637,625 shares in the company, valued at $8,384,768.75. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $13.16, for a total transaction of $165,052.72.
• On Thursday, November 5th, Lloyd Carney sold 15,156 shares of Grid Dynamics stock. The stock was sold at an average price of $13.39, for a total transaction of $202,938.84.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded up $0.20 during trading hours on Monday, reaching $13.30. The stock had a trading volume of 1,292,927 shares, compared to its average volume of 1,718,705. Grid Dynamics Holdings, Inc. has a 1 year low of $5.11 and a 1 year high of $14.02. The firm’s 50 day moving average is $8.68 and its 200-day moving average is $7.10. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 147.78 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. Analysts forecast that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GDYN. TD Cowen boosted their target price on Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Zacks Research cut shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Wall Street Zen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC increased their target price on shares of 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.80.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after purchasing an additional 157,767 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Grid Dynamics during the first quarter worth about $884,000. Walleye Capital LLC acquired a new stake in shares of Grid Dynamics during the first quarter worth about $1,007,000. Quantinno Capital Management LP increased its position in Grid Dynamics by 460.4% in the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after acquiring an additional 169,477 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Grid Dynamics during the 2nd quarter valued at approximately $2,702,000. Hedge funds and other institutional investors 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.