Key Points
- Director Lloyd Carney sold 15,156 Grid Dynamics shares at an average $13.39, totaling about $202,939; he retained 677,130 shares. The article also reports two additional sales totaling about $684,543.
- Grid Dynamics beat quarterly estimates, reporting EPS of $0.18 versus $0.13 expected and revenue of $114.29 million versus $112.77 million expected.
- Analyst views are mixed: the stock has a consensus “Hold” rating and an $11.80 average price target, with four Buy, two Hold, and two Sell ratings.
Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) Director Lloyd Carney sold 15,156 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $13.39, for a total value of $202,938.84. Following the transaction, the director owned 677,130 shares in the company, valued at $9,066,770.70. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $13.16, for a total value of $165,052.72.
- On Friday, November 6th, Lloyd Carney sold 39,505 shares of Grid Dynamics stock. The shares were sold at an average price of $13.15, for a total value of $519,490.75.
Grid Dynamics Price Performance
Shares of GDYN stock opened at $13.30 on Tuesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 65.48 and a beta of 0.88. The stock has a 50 day simple moving average of $8.79 and a 200-day simple moving average of $7.13. Grid Dynamics Holdings, Inc. has a 1-year low of $5.11 and a 1-year high of $14.02.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The firm had revenue of $114.29 million for the quarter, compared to analyst estimates of $112.77 million. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.
Institutional Trading of Grid Dynamics
Institutional investors have recently made changes to their positions in the company. Bastion Asset Management Inc. purchased a new stake in shares of Grid Dynamics during the first quarter worth approximately $6,899,000. Squarepoint Ops LLC acquired a new position in Grid Dynamics in the 2nd quarter valued at $2,702,000. Summit Creek Advisors LLC purchased a new position in Grid Dynamics in the 2nd quarter valued at $2,452,000. Walleye Capital LLC purchased a new position in Grid Dynamics in the 1st quarter valued at $1,007,000. Finally, Quantinno Capital Management LP lifted its holdings 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 purchasing an additional 169,477 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
GDYN has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $8.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Needham & Company LLC boosted their target price on shares of Grid Dynamics from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Wall Street Zen raised shares of Grid Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings restated a "sell (d)" rating on shares of Grid Dynamics in a research report on Thursday, October 29th. Finally, TD Cowen upped their price target on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a "buy" rating in a research report 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 stock. According to data from MarketBeat.com, Grid Dynamics has a consensus rating of "Hold" and a consensus target price of $11.80.
Check Out Our Latest Research Report on GDYN
Grid Dynamics Company Profile
(
Get Free Report)
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.
Further Reading
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