- Nq L.L.C. Btoa Sells 16,689,884 Shares of Bumble (NASDAQ:BMBL) Stock

Key Points

• Nq L.L.C. Btoa, a major shareholder of Bumble Inc., sold 16,689,884 shares at an average price of $6.26, totaling over $104 million.
• Bumble reported earnings of $0.64 per share for the latest quarter, surpassing estimates of $0.37, despite a 7.6% year-over-year revenue decline.
• Analysts have varied ratings on Bumble, with a consensus of "Hold" and a price target of $6.69, amid upgrades from firms like Goldman Sachs and Royal Bank Of Canada.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder - Nq L.L.C. Btoa sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Bumble Trading Down 0.9%

BMBL traded down $0.0570 during trading on Wednesday, hitting $6.3230. 109,014 shares of the stock traded hands, compared to its average volume of 3,342,923. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $9.22. The firm has a market capitalization of $657.66 million, a P/E ratio of -1.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.96. The firm has a 50-day moving average of $6.61 and a 200 day moving average of $5.78.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same period in the prior year, the business earned $0.22 EPS. The company's revenue for the quarter was down 7.6% on a year-over-year basis. Equities research analysts anticipate that Bumble Inc. will post 4.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company restated a "positive" rating on shares of Bumble in a report on Friday, June 27th. Susquehanna restated a "neutral" rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Monday, August 11th. Bank of America upped their price objective on shares of Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.63.

Institutional Trading of Bumble

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after purchasing an additional 1,249 shares in the last quarter. Pale Fire Capital SE bought a new stake in Bumble during the 1st quarter valued at about $43,000. Spire Wealth Management bought a new stake in Bumble during the 2nd quarter valued at about $71,000. Vident Advisory LLC bought a new stake in Bumble during the 1st quarter valued at about $48,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock valued at $90,000 after acquiring an additional 4,000 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.

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.