Alliancebernstein L.P. Reduces Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Alliancebernstein L.P. trimmed its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 11.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,464,951 shares of the company’s stock after selling 182,231 shares during the quarter. Alliancebernstein L.P.’s holdings in Grid Dynamics were worth $32,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics in the fourth quarter worth $27,000. MCF Advisors LLC increased its position in shares of Grid Dynamics by 65.8% in 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 during the period. FMR LLC raised its stake in shares of Grid Dynamics by 38.7% during 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 last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings 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 grew its stake in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC upped their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.60.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the sale, the chief operating officer now directly owns 480,759 shares in the company, valued at $8,062,328.43. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,306 shares of company stock valued at $376,590 in the last three months. 7.20% of the stock is currently owned by company insiders.

Grid Dynamics Trading Down 3.0 %

Shares of GDYN opened at $13.72 on Monday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 343.00 and a beta of 0.99. The firm’s 50-day moving average price is $19.31 and its 200-day moving average price is $18.42.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share 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 for the quarter, compared to the consensus estimate of $96.00 million. On average, research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Grid Dynamics Profile

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.