Alliancebernstein L.P. Sells 182,231 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Alliancebernstein L.P. decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 11.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,464,951 shares of the company’s stock after selling 182,231 shares during the quarter. Alliancebernstein L.P. owned approximately 1.78% of Grid Dynamics worth $32,581,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GDYN. American Century Companies Inc. raised its position in shares of Grid Dynamics by 824.9% in the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company’s stock valued at $13,821,000 after purchasing an additional 554,275 shares during the period. Lord Abbett & CO. LLC bought a new stake in Grid Dynamics during the 3rd quarter valued at $8,589,000. SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics during the fourth quarter worth $242,000. Barclays PLC boosted its holdings in shares of Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after acquiring an additional 70,579 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after purchasing an additional 675,419 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Grid Dynamics presently has an average rating of “Buy” and a consensus target price of $19.60.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,306 shares of company stock worth $376,590. Insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $13.72 on Monday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The stock has a market cap of $1.15 billion, a P/E ratio of 343.00 and a beta of 0.99. The firm’s fifty day moving average price is $19.31 and its 200-day moving average price is $18.42.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.