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

Alliancebernstein L.P. decreased its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,464,951 shares of the company's stock after selling 182,231 shares during the quarter. Alliancebernstein L.P. owned about 1.78% of Grid Dynamics worth $32,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GDYN. Global Retirement Partners LLC bought a new stake in Grid Dynamics in the 4th quarter valued at about $27,000. FMR LLC grew its stake in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company's stock valued at $40,000 after acquiring an additional 801 shares during the period. MCF Advisors LLC increased its holdings in shares of Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after acquiring an additional 740 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after purchasing an additional 1,282 shares during the period. Finally, Quarry LP lifted its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company's stock worth $73,000 after purchasing an additional 2,974 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now directly owns 482,759 shares in the company, valued at $9,008,282.94. The trade was a 2.09 % 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, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $18.10, for a total transaction of $36,200.00. Following the sale, the chief financial officer now owns 366,818 shares of the company's stock, valued at approximately $6,639,405.80. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,043 shares of company stock valued at $349,078. Insiders own 7.20% of the company's stock.

Grid Dynamics Price Performance

Shares of GDYN stock traded up $0.01 on Friday, hitting $13.53. The stock had a trading volume of 568,640 shares, compared to its average volume of 604,626. The business has a 50 day moving average of $18.13 and a 200 day moving average of $18.36. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 338.25 and a beta of 0.99.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.28 million during the quarter, compared to analysts' expectations of $96.00 million. As a group, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upped their price objective on shares of 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.60.

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.