Swiss National Bank Has $637,000 Stake in Bumble Inc. $BMBL

Swiss National Bank trimmed its position in shares of Bumble Inc. (NASDAQ:BMBL) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,800 shares of the company’s stock after selling 38,000 shares during the quarter. Swiss National Bank owned approximately 0.14% of Bumble worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BMBL. RPD Fund Management LLC acquired a new stake in shares of Bumble during the 4th quarter valued at about $30,940,000. Ameriprise Financial Inc. lifted its holdings in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after buying an additional 1,298,630 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Bumble during the 1st quarter valued at about $3,231,000. First Trust Advisors LP lifted its holdings in shares of Bumble by 429.5% during the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock valued at $6,287,000 after buying an additional 626,528 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Bumble during the 4th quarter valued at about $2,042,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $6.45 on Wednesday. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $6.75 and its two-hundred day moving average is $5.71. The company has a market cap of $670.86 million, a P/E ratio of -1.32, a P/E/G ratio of 0.89 and a beta of 1.96. Bumble Inc. has a 12 month low of $3.55 and a 12 month high of $9.22.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company had revenue of $248.23 million for the quarter, compared to the consensus estimate of $243.72 million. During the same period in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts expect that Bumble Inc. will post 4.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMBL shares. Royal Bank Of Canada lifted their price target on Bumble from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Thursday, August 7th. Zacks Research raised Bumble to a “hold” rating in a research note on Friday, August 8th. Morgan Stanley raised their price objective on Bumble from $5.50 to $6.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Citigroup raised their price objective on Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research note on Friday, June 27th. Finally, Susquehanna reissued a “neutral” rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.63.

Insider Activity at Bumble

In other news, CEO Whitney Wolfe Herd sold 1,365,116 shares of Bumble stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the sale, the chief executive officer owned 1,598,258 shares of the company’s stock, valued at approximately $10,005,095.08. This trade represents a 46.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of Bumble stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Insiders have sold 68,124,652 shares of company stock worth $426,460,322 in the last three months. Company insiders own 15.84% of the company’s stock.

Bumble 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.