Bumble Inc. (NASDAQ:BMBL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 630,671 shares of the company’s stock after selling 38,929 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.58% of Bumble worth $5,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in Bumble during the 4th quarter worth $56,000. SG Americas Securities LLC acquired a new position in Bumble in the third quarter worth about $71,000. Capital Management Associates Inc acquired a new position in Bumble in the third quarter worth about $74,000. D.A. Davidson & CO. acquired a new position in Bumble in the third quarter worth about $77,000. Finally, Quantinno Capital Management LP acquired a new position in Bumble in the third quarter worth about $90,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BMBL shares. Piper Sandler decreased their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group lifted their target price on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Bumble currently has a consensus rating of “Hold” and an average target price of $8.18.

Bumble Trading Down 30.4 %

Shares of NASDAQ:BMBL opened at $5.64 on Thursday. The company has a 50 day moving average of $7.98 and a 200-day moving average of $7.43. The firm has a market cap of $610.14 million, a P/E ratio of -1.15 and a beta of 1.70. Bumble Inc. has a twelve month low of $4.80 and a twelve month high of $13.56. 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 Company 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.