JPMorgan Chase & Co. Reduces Stock Position in Bumble Inc. (NASDAQ:BMBL)

JPMorgan Chase & Co. cut its position in Bumble Inc. (NASDAQ:BMBL) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,601 shares of the company’s stock after selling 35,253 shares during the quarter. JPMorgan Chase & Co. owned about 0.09% of Bumble worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Bumble by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after buying an additional 14,889 shares in the last quarter. Westbourne Investment Advisors Inc. increased its holdings in Bumble by 18.4% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company’s stock valued at $3,960,000 after purchasing an additional 75,635 shares during the period. Principal Financial Group Inc. lifted its holdings in Bumble by 11.2% in the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company’s stock worth $1,293,000 after buying an additional 15,958 shares during the period. Rhumbline Advisers lifted its holdings in Bumble by 1.4% in the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after buying an additional 2,157 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after buying an additional 6,325 shares during the period. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Performance

BMBL opened at $4.42 on Tuesday. Bumble Inc. has a 52-week low of $3.55 and a 52-week high of $12.49. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm’s fifty day simple moving average is $4.56 and its two-hundred day simple moving average is $6.75. The company has a market cap of $466.51 million, a price-to-earnings ratio of -0.90 and a beta of 1.77.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Susquehanna reduced their target price on Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Citigroup reduced their target price on Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a report on Friday. Piper Sandler reduced their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Evercore ISI reduced their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.82.

Bumble Company Profile

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.