Envestnet Asset Management Inc. Increases Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Envestnet Asset Management Inc. increased its stake in shares of Bumble Inc. (NASDAQ:BMBLGet Rating) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,659 shares of the company’s stock after purchasing an additional 9,189 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Bumble were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Bumble during the 2nd quarter worth about $76,000. ProShare Advisors LLC purchased a new stake in Bumble during the 2nd quarter worth about $348,000. Providence Equity Partners L.L.C. purchased a new stake in Bumble during the 1st quarter worth about $30,879,000. CTC Capital Management LLC purchased a new stake in Bumble during the 1st quarter worth about $243,000. Finally, RBF Capital LLC purchased a new stake in Bumble during the 1st quarter worth about $1,966,000.

Analyst Ratings Changes

A number of research firms recently commented on BMBL. Royal Bank of Canada dropped their price objective on Bumble from $33.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Piper Sandler lowered their price target on Bumble from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, November 10th. Evercore ISI lowered their price target on Bumble from $34.00 to $25.00 in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft lowered their price target on Bumble from $27.00 to $22.00 in a report on Thursday, November 10th. Finally, Cowen lowered their price target on Bumble from $38.00 to $33.00 in a report on Thursday, November 10th. Six 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 an average rating of “Moderate Buy” and a consensus target price of $27.88.

Bumble Stock Performance

Bumble stock opened at $22.19 on Tuesday. The stock’s 50 day moving average price is $23.28 and its 200 day moving average price is $27.55. The firm has a market capitalization of $2.88 billion, a PE ratio of 138.70 and a beta of 1.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.24 and a current ratio of 3.24. Bumble Inc. has a one year low of $15.41 and a one year high of $39.33.

Bumble Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Bumble (NASDAQ:BMBL)

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