Bumble Inc. (NASDAQ:BMBL) Shares Sold by State Street Corp

State Street Corp lowered its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,596,178 shares of the company’s stock after selling 38,799 shares during the quarter. State Street Corp owned approximately 2.05% of Bumble worth $16,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BMBL. Point72 Asset Management L.P. acquired a new position in shares of Bumble during the second quarter valued at $24,121,000. The Manufacturers Life Insurance Company boosted its stake in Bumble by 17.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after purchasing an additional 297,057 shares during the period. Victory Capital Management Inc. boosted its stake in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares during the period. AXA S.A. grew its position in Bumble by 1,589.8% in the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after purchasing an additional 179,757 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bumble in the second quarter valued at approximately $1,716,000. 94.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Citigroup raised their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Susquehanna raised their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average target price of $8.38.

Bumble Trading Up 0.5 %

NASDAQ BMBL opened at $7.92 on Wednesday. The firm’s 50 day moving average price is $7.93 and its two-hundred day moving average price is $7.94. The stock has a market cap of $856.80 million, a price-to-earnings ratio of -1.62 and a beta of 1.71. Bumble Inc. has a twelve month low of $4.80 and a twelve month high of $15.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

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.