Bumble Inc. (NASDAQ:BMBL) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 125.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,116 shares of the company’s stock after buying an additional 49,050 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Bumble worth $717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in Bumble during the third quarter worth about $911,000. Integrated Quantitative Investments LLC purchased a new stake in Bumble during the 4th quarter worth approximately $811,000. Westbourne Investment Advisors Inc. lifted 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 worth $3,960,000 after buying an additional 75,635 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Bumble in the fourth quarter worth $214,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Bumble in the fourth quarter valued at $189,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

BMBL has been the topic of a number of analyst reports. Piper Sandler reduced their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Evercore ISI lowered their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price target on Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.82.

Bumble Stock Performance

NASDAQ BMBL opened at $4.66 on Friday. The business has a 50 day moving average price of $4.48 and a 200 day moving average price of $6.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $491.84 million, a P/E ratio of -0.95 and a beta of 1.77. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $12.49.

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.