Bumble Inc. (NASDAQ:BMBL) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,328 shares of the company’s stock after acquiring an additional 6,325 shares during the period. Franklin Resources Inc. owned about 0.06% of Bumble worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMBL. SG Americas Securities LLC acquired a new position in shares of Bumble in the third quarter worth $71,000. Capital Management Associates Inc acquired a new stake in shares of Bumble during the 3rd quarter worth about $74,000. D.A. Davidson & CO. purchased a new stake in shares of Bumble during the third quarter worth about $77,000. Meeder Asset Management Inc. acquired a new position in shares of Bumble in the second quarter valued at approximately $82,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Bumble in the third quarter valued at approximately $90,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Citigroup boosted 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. Susquehanna increased their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.38.

Bumble Stock Down 3.0 %

NASDAQ:BMBL opened at $8.14 on Wednesday. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.05. The firm has a market capitalization of $880.60 million, a PE ratio of -1.66 and a beta of 1.71. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average of $8.04 and a 200-day moving average of $7.82.

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.