Principal Financial Group Inc. Raises Stock Position in Bumble Inc. (NASDAQ:BMBL)

Principal Financial Group Inc. grew its holdings in shares of Bumble Inc. (NASDAQ:BMBLGet Rating) by 193.5% during the second quarter, Holdings Channel reports. The firm owned 642,206 shares of the company’s stock after purchasing an additional 423,412 shares during the quarter. Principal Financial Group Inc.’s holdings in Bumble were worth $18,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMBL. Envestnet Asset Management Inc. increased its stake in Bumble by 150.0% during the first quarter. Envestnet Asset Management Inc. now owns 41,470 shares of the company’s stock worth $1,202,000 after purchasing an additional 24,879 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of Bumble by 2.6% during the first quarter. Advisor Group Holdings Inc. now owns 16,549 shares of the company’s stock worth $471,000 after buying an additional 425 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Bumble during the first quarter worth approximately $2,154,000. New York State Common Retirement Fund increased its stake in shares of Bumble by 136.3% during the first quarter. New York State Common Retirement Fund now owns 40,174 shares of the company’s stock worth $1,164,000 after buying an additional 23,174 shares during the period. Finally, Royce & Associates LP purchased a new stake in shares of Bumble during the first quarter worth approximately $271,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Bumble from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 10th. Susquehanna upped their target price on shares of Bumble from $24.00 to $36.00 and gave the stock a “positive” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. dropped their price target on shares of Bumble from $39.00 to $35.00 in a research note on Tuesday, October 4th. Jefferies Financial Group assumed coverage on shares of Bumble in a research note on Wednesday, October 26th. They issued a “hold” rating and a $23.00 price target on the stock. Finally, BTIG Research dropped their price target on shares of Bumble from $38.00 to $25.00 in a research note on Thursday, November 10th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

Bumble Price Performance

BMBL stock opened at $21.99 on Wednesday. The company has a market capitalization of $2.85 billion, a P/E ratio of 137.45 and a beta of 1.90. Bumble Inc. has a twelve month low of $15.41 and a twelve month high of $39.33. The business has a 50 day simple moving average of $23.16 and a 200-day simple moving average of $27.54. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.24.

Bumble Profile

(Get Rating)

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.

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Institutional Ownership by Quarter for Bumble (NASDAQ:BMBL)

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