Bumble (NASDAQ:BMBL) Major Shareholder Sells $11,077,261.44 in Stock

by · The Cerbat Gem

Bumble Inc. (NASDAQ:BMBL – Get Free Report) major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This trade represents a 99.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Bumble Price Performance

BMBL stock traded up $0.06 during trading on Wednesday, hitting $2.62. The company had a trading volume of 2,836,122 shares, compared to its average volume of 3,363,300. The company has a fifty day moving average price of $2.83 and a two-hundred day moving average price of $3.17. Bumble Inc. has a fifty-two week low of $2.49 and a fifty-two week high of $6.21. The company has a market cap of $346.42 million, a P/E ratio of -0.62 and a beta of 1.86. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65.

Bumble (NASDAQ:BMBL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). The company had revenue of $210.53 million for the quarter, compared to analyst estimates of $210.46 million. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The business’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.45) earnings per share. Equities research analysts expect that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BMBL. Susquehanna dropped their target price on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Wells Fargo & Company reduced their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. The Goldman Sachs Group dropped their price objective on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bumble has an average rating of “Reduce” and a consensus target price of $3.87.

Read Our Latest Analysis on BMBL

Institutional Trading of Bumble

Hedge funds and other institutional investors have recently made changes to their positions in the business. HB Wealth Management LLC bought a new position in shares of Bumble in the first quarter valued at about $34,000. L2 Asset Management LLC acquired a new position in Bumble during the 2nd quarter worth about $42,000. R Squared Ltd bought a new stake in Bumble during the 1st quarter worth about $48,000. Abel Hall LLC grew its holdings in Bumble by 49.4% during the 1st quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock worth $57,000 after acquiring an additional 5,793 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Bumble in the 1st quarter valued at about $63,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Company Profile

(Get Free Report)

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.

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