Swiss National Bank Sells 23,400 Shares of Bumble Inc. (NASDAQ:BMBL)

Swiss National Bank lowered its stake in Bumble Inc. (NASDAQ:BMBL) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 188,300 shares of the company’s stock after selling 23,400 shares during the period. Swiss National Bank owned approximately 0.14% of Bumble worth $2,776,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC increased its position in shares of Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares during the period. New York State Common Retirement Fund grew its position in Bumble by 5.6% in the fourth quarter. New York State Common Retirement Fund now owns 151,449 shares of the company’s stock valued at $2,232,000 after acquiring an additional 8,097 shares during the last quarter. Handelsbanken Fonder AB grew its position in Bumble by 24.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock valued at $227,000 after acquiring an additional 3,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Bumble by 16.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after acquiring an additional 97,948 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Bumble by 11.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,776 shares of the company’s stock valued at $330,000 after acquiring an additional 2,253 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on BMBL shares. Morgan Stanley started coverage on Bumble in a research report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Susquehanna lowered their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research note on Thursday, February 29th. Evercore ISI upped their price objective on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group lowered their price objective on Bumble from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.89.

Insiders Place Their Bets

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.84% of the company’s stock.

Bumble Stock Performance

Shares of BMBL stock opened at $11.93 on Thursday. The business’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $12.74. Bumble Inc. has a one year low of $9.83 and a one year high of $21.06. The stock has a market capitalization of $1.54 billion, a PE ratio of 70.18, a PEG ratio of 0.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $267.80 million for the quarter, compared to analysts’ expectations of $265.41 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. As a group, research analysts forecast that Bumble Inc. will post 0.88 earnings per share for the current year.

About Bumble

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 apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.