Insider Selling: Grid Dynamics (NASDAQ:GDYN) COO Sells $38,792.00 in Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) COO Yury Gryzlov sold 4,849 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $8.00, for a total transaction of $38,792.00. Following the completion of 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 position. The sale was disclosed in a legal filing 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 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 shares were 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 stock was 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 Trading Up 4.4%

NASDAQ GDYN traded up $0.34 on Thursday, hitting $8.01. The company’s stock had a trading volume of 1,028,930 shares, compared to its average volume of 1,714,554. The firm has a market cap of $649.85 million, a P/E ratio of 400.70 and a beta of 0.97. Grid Dynamics Holdings, Inc. has a 52-week low of $5.11 and a 52-week high of $10.21. The company’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $6.70.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, July 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The company had revenue of $108.16 million during the quarter, compared to the consensus estimate of $106.55 million. On average, research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new stake in Grid Dynamics in the second quarter worth about $75,000. Squarepoint Ops LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter worth approximately $2,702,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Grid Dynamics in the 2nd quarter worth approximately $234,000. Summit Creek Advisors LLC purchased a new stake in shares of Grid Dynamics in the 2nd quarter worth approximately $2,452,000. Finally, FNY Investment Advisers LLC bought a new position in Grid Dynamics during the 2nd quarter valued at approximately $99,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Grid Dynamics

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.