Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells $11,077,261.44 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bumble Price Performance

BMBL stock opened at $2.54 on Friday. Bumble Inc. has a 52-week low of $2.49 and a 52-week high of $6.01. The business has a fifty day moving average of $2.82 and a two-hundred day moving average of $3.15. The stock has a market cap of $335.20 million, a price-to-earnings ratio of -0.60 and a beta of 1.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The company had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $210.46 million. During the same quarter last year, the firm posted ($2.45) earnings per share. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. As a group, research analysts anticipate that Bumble Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMBL shares. UBS Group dropped their target price on Bumble from $4.50 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. The Goldman Sachs Group reduced their target price on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Bumble currently has an average rating of “Reduce” and a consensus target price of $3.87.

Hedge Funds Weigh In On Bumble

Several hedge funds have recently made changes to their positions in BMBL. Accel Growth Fund V Associates L.L.C. acquired a new stake in shares of Bumble in the second quarter valued at approximately $16,174,499. Renaissance Technologies LLC increased its holdings in shares of Bumble by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock valued at $13,737,000 after acquiring an additional 1,378,487 shares during the period. Bank of America Corp DE increased its stake in Bumble by 16.7% in the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock valued at $6,241,000 after purchasing an additional 274,548 shares during the period. RBF Capital LLC grew its stake in shares of Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after purchasing an additional 449,866 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Bumble in the 1st quarter valued at approximately $2,039,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.