Goldman Sachs Group Inc. cut its stake in Gridsum Holding (NASDAQ:GSUM) by 1.1% during the first quarter, Holdings Channel reports. The firm owned 2,247,985 shares of the technology company’s stock after selling 25,000 shares during the period. Goldman Sachs Group Inc. owned approximately 0.08% of Gridsum Holding worth $29,876,000 as of its most recent SEC filing.
Separately, Matthews International Capital Management LLC boosted 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. 26.72% of the stock is owned by institutional investors and hedge funds.
Gridsum Holding (NASDAQ GSUM) opened at 7.82 on Monday. Gridsum Holding has a one year low of $7.76 and a one year high of $18.29.
Gridsum Holding (NASDAQ:GSUM) last announced its earnings results on Thursday, May 25th. The technology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $100.58 million for the quarter, compared to analyst estimates of $87.61 million. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. On average, equities analysts forecast that Gridsum Holding will post ($0.06) earnings per share for the current year.
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Separately, Zacks Investment Research upgraded shares of Gridsum Holding from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, May 30th.
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.
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