Geode Capital Management LLC Buys 14,889 Shares of Bumble Inc. (NASDAQ:BMBL)

Geode Capital Management LLC raised its position in shares of Bumble Inc. (NASDAQ:BMBL) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,330,678 shares of the company’s stock after acquiring an additional 14,889 shares during the period. Geode Capital Management LLC owned approximately 1.84% of Bumble worth $14,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BMBL. Meeder Asset Management Inc. purchased a new stake in Bumble in the second quarter valued at about $82,000. Headlands Technologies LLC acquired a new stake in Bumble in the second quarter valued at approximately $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bumble during the second quarter valued at $111,000. SG Americas Securities LLC acquired a new stake in shares of Bumble in the third quarter worth approximately $71,000. Finally, Capital Management Associates Inc acquired a new position in Bumble during the third quarter worth $74,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Down 0.7 %

Shares of NASDAQ BMBL opened at $8.02 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.33. The company has a market cap of $867.62 million, a price-to-earnings ratio of -1.64 and a beta of 1.71. The stock has a 50-day moving average price of $8.00 and a two-hundred day moving average price of $7.86.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BMBL shares. The Goldman Sachs Group upped their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and issued a $8.00 price target (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. Citigroup increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp cut shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Finally, Susquehanna lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.38.

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.