Pictet Asset Management Ltd. Maintains Position in Gridsum Holding (GSUM)

Pictet Asset Management Ltd. held its stake in shares of Gridsum Holding (NASDAQ:GSUM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,383 shares of the technology company’s stock at the end of the second quarter. Pictet Asset Management Ltd.’s holdings in Gridsum Holding were worth $1,070,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GSUM. Quantitative Systematic Strategies LLC acquired a new stake in shares of Gridsum Holding during the second quarter valued at $124,000. New Silk Road Investment PTE Ltd. acquired a new stake in shares of Gridsum Holding during the second quarter valued at $459,000. Finally, Matthews International Capital Management LLC increased its stake in shares of Gridsum Holding by 2,197.8% in the first quarter. Matthews International Capital Management LLC now owns 358,463 shares of the technology company’s stock valued at $4,764,000 after buying an additional 342,863 shares during the last quarter. Hedge funds and other institutional investors own 26.95% of the company’s stock.

Shares of Gridsum Holding (NASDAQ:GSUM) opened at 8.35 on Wednesday. The firm’s market cap is $248.29 million. Gridsum Holding has a 52 week low of $6.76 and a 52 week high of $18.29.

Gridsum Holding (NASDAQ:GSUM) last issued its quarterly earnings results on Thursday, May 25th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.10. The firm had revenue of $100.58 million for the quarter, compared to the consensus estimate of $87.61 million. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, equities research analysts forecast that Gridsum Holding will post ($0.06) EPS for the current year.

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Separately, Zacks Investment Research downgraded Gridsum Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st.

Gridsum Holding Company Profile

Gridsum Holding Inc is a holding company. The Company provides data analysis software for multinational and domestic enterprises, and government agencies in China. The Company’s technology, the Gridsum Big Data Platform performs multi-dimensional correlation analysis and analyzes real-time events. The Company offers various types of solutions and technologies.