Grid Dynamics (NASDAQ:GDYN) Director Eric Benhamou Sells 54,845 Shares of Company Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Director Eric Benhamou sold 54,845 shares of the company’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 completion of the sale, the director owned 200,000 shares in the company, valued at approximately $2,700,000. This trade represents a 21.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value of $5,173.70.

Grid Dynamics Trading Down 3.3%

GDYN stock opened at $13.38 on Friday. The stock’s 50 day simple moving average is $9.14 and its 200 day simple moving average is $7.20. Grid Dynamics Holdings, Inc. has a 12-month low of $5.11 and a 12-month high of $14.14. The firm has a market cap of $1.08 billion, a P/E ratio of 65.86 and a beta of 0.88.

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

Wall Street Analyst Weigh In

GDYN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Zacks Research lowered shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday, October 29th. Finally, Wall Street Zen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.80.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Grid Dynamics by 60.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after buying an additional 3,122 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Grid Dynamics in the 2nd quarter valued at approximately $75,000. FNY Investment Advisers LLC acquired a new stake in Grid Dynamics in the 2nd quarter valued at approximately $99,000. Vise Technologies Inc. acquired a new stake in Grid Dynamics in the 3rd quarter valued at approximately $103,000. Finally, StoneX Group Inc. bought a new stake in Grid Dynamics during the 3rd quarter valued at $120,000. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Company Profile

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.