Bumble Inc. (NASDAQ:BMBL) Shares Sold by Barclays PLC

Barclays PLC lessened its stake in Bumble Inc. (NASDAQ:BMBL) by 96.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,618 shares of the company’s stock after selling 5,058,731 shares during the period. Barclays PLC owned about 0.17% of Bumble worth $1,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in Bumble in the second quarter valued at about $24,121,000. The Manufacturers Life Insurance Company raised its position in shares of 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 acquiring an additional 297,057 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of 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 acquiring an additional 206,215 shares in the last quarter. AXA S.A. lifted its stake in Bumble by 1,589.8% during the second 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 position in Bumble in the second quarter worth $1,716,000. Institutional investors own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BMBL shares. Susquehanna upped their target price on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Morgan Stanley raised their target price on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup upped 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 Thursday, November 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Down 1.1 %

Shares of NASDAQ BMBL opened at $7.48 on Tuesday. Bumble Inc. has a 1 year low of $4.80 and a 1 year high of $14.65. The firm’s 50-day moving average is $8.16 and its 200-day moving average is $7.67. 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 firm has a market capitalization of $809.20 million, a PE ratio of -1.53 and a beta of 1.70.

About Bumble

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.