Bumble Inc. $BMBL Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Bumble Inc. (NASDAQ:BMBL) by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,098 shares of the company’s stock after selling 107,081 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Bumble worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new stake in shares of Bumble in the first quarter valued at about $49,000. Tyche Wealth Partners LLC purchased a new stake in shares of Bumble in the first quarter valued at about $52,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Bumble in the first quarter valued at about $54,000. Tower Research Capital LLC TRC raised its holdings in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Bumble in the first quarter valued at about $62,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Down 2.5%

Shares of BMBL opened at $6.17 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. The firm has a 50 day simple moving average of $6.81 and a 200-day simple moving average of $5.66. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $9.22. The stock has a market cap of $641.74 million, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.96.

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

Insider Activity at Bumble

In other Bumble news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $8,545,626.16. Following the transaction, the chief executive officer owned 1,598,258 shares in the company, valued at $10,005,095.08. The trade was a 46.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,124,652 shares of company stock worth $426,460,322. 15.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMBL. The Goldman Sachs Group increased their price target on shares of Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Susquehanna reissued a “neutral” rating and set a $7.00 price target (up from $5.00) on shares of Bumble in a report on Monday, August 11th. Morgan Stanley increased their price target on shares of Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Royal Bank Of Canada increased their price target on shares of Bumble from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, UBS Group increased their price target on shares of Bumble from $6.00 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.63.

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.