Bumble (NASDAQ:BMBL) Major Shareholder Sells $26,246,039.04 in Stock
by Tristan Rich · The Markets DailyBumble Inc. (NASDAQ:BMBL – Get Free Report) major shareholder Buzz Holdings L.P. Bcp sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Bumble Stock Performance
Shares of BMBL stock traded down $0.04 on Thursday, reaching $3.74. The stock had a trading volume of 3,267,159 shares, compared to its average volume of 6,282,907. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.55 and a current ratio of 2.21. Bumble Inc. has a 1 year low of $2.61 and a 1 year high of $8.64. The stock has a market cap of $421.65 million, a P/E ratio of -0.62, a price-to-earnings-growth ratio of 0.13 and a beta of 1.96. The company has a 50 day simple moving average of $3.28 and a 200 day simple moving average of $4.32.
Wall Street Analysts Forecast Growth
BMBL has been the subject of a number of recent research reports. BTIG Research restated a “neutral” rating on shares of Bumble in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Bumble in a report on Monday. TD Cowen restated a “hold” rating and set a $5.00 target price on shares of Bumble in a research report on Thursday, March 12th. Citigroup increased their price target on shares of Bumble from $3.80 to $3.90 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, William Blair reiterated an “outperform” rating on shares of Bumble in a research note on Monday. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.34.
Get Our Latest Stock Report on BMBL
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its stake in shares of Bumble by 16.7% during the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock valued at $132,000 after acquiring an additional 2,857 shares during the period. Arizona State Retirement System raised its stake in Bumble by 14.4% during the 3rd quarter. Arizona State Retirement System now owns 26,419 shares of the company’s stock worth $161,000 after acquiring an additional 3,317 shares during the period. Quantbot Technologies LP raised its stake in Bumble by 4.1% during the 2nd quarter. Quantbot Technologies LP now owns 102,964 shares of the company’s stock worth $679,000 after acquiring an additional 4,093 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in Bumble by 19.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 25,822 shares of the company’s stock valued at $92,000 after purchasing an additional 4,270 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Bumble by 3.0% during the second quarter. Swiss National Bank now owns 151,200 shares of the company’s stock valued at $996,000 after purchasing an additional 4,400 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.
About Bumble
Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”
Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.