Key Points
- Grid Dynamics Director Eric Benhamou sold 54,845 shares at an average price of $13.50, for about $740,408; the sale reduced his stake by 21.52% to 200,000 shares.
- The company reported quarterly EPS of $0.18, beating the $0.13 consensus estimate, and revenue of $114.29 million, above forecasts of $112.77 million.
- Analyst views were mixed: the consensus rating was Hold, with an average price target of $11.80, while the stock opened at $13.38.
Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) Director Eric Benhamou sold 54,845 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $13.50, for a total transaction of $740,407.50. Following the transaction, the director directly owned 200,000 shares in the company, valued at approximately $2,700,000. The trade was a 21.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Eric Benhamou also recently made the following trade(s):
- On Monday, November 9th, Eric Benhamou sold 389 shares of Grid Dynamics stock. The stock was sold at an average price of $13.30, for a total transaction of $5,173.70.
Grid Dynamics Price Performance
Shares of NASDAQ:GDYN opened at $13.38 on Friday. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $14.14. The stock's 50 day moving average price is $9.14 and its 200 day moving average price is $7.20. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 65.86 and a beta of 0.88.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The business 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, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.26 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Grid Dynamics from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. JPMorgan Chase & Co. upped their target price on Grid Dynamics from $8.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Zacks Research lowered Grid Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 15th. Weiss Ratings reissued 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 company a "buy" rating in a research report on Friday, October 30th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $11.80.
Read Our Latest Research Report on GDYN
Institutional Trading of Grid Dynamics
Several hedge funds and other institutional investors have recently modified their holdings of GDYN. Bastion Asset Management Inc. purchased a new position in shares of Grid Dynamics during the first quarter valued at $6,899,000. Summit Creek Advisors LLC lifted its stake in Grid Dynamics by 13.1% in the 3rd quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company's stock worth $3,848,000 after acquiring an additional 56,661 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Grid Dynamics by 13.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company's stock worth $3,774,000 after acquiring an additional 56,505 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Grid Dynamics in the 2nd quarter worth about $2,702,000. Finally, Bank of America Corp DE boosted its holdings in shares of Grid Dynamics by 76.4% during the first quarter. Bank of America Corp DE now owns 364,342 shares of the company's stock worth $2,077,000 after purchasing an additional 157,767 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.
Grid Dynamics Company Profile
(
Get Free Report)
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.
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