Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells $104,478,673.84 in 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 dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Bumble Stock Performance

Shares of Bumble stock traded up $0.14 during trading hours on Wednesday, reaching $6.52. 6,511,338 shares of the stock traded hands, compared to its average volume of 4,603,225. Bumble Inc. has a one year low of $3.55 and a one year high of $9.22. The firm has a market capitalization of $678.15 million, a price-to-earnings ratio of -1.33, a P/E/G ratio of 0.89 and a beta of 1.96. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $6.64 and a 200 day moving average price of $5.78.

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

Hedge Funds Weigh In On Bumble

Hedge funds have recently modified their holdings of the stock. Maple Rock Capital Partners Inc. purchased a new position in Bumble during the second quarter valued at $30,127,000. RPD Fund Management LLC bought a new position in shares of Bumble during the 4th quarter valued at about $30,940,000. Ameriprise Financial Inc. boosted its holdings in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Bumble during the second quarter valued at about $7,337,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Bumble by 3,714.4% in the second quarter. Cubist Systematic Strategies LLC now owns 923,093 shares of the company's stock worth $6,083,000 after purchasing an additional 898,893 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a research report on Friday, June 27th. Susquehanna reiterated a "neutral" rating and set a $7.00 target price (up from $5.00) on shares of Bumble in a research report on Monday, August 11th. UBS Group boosted their price target on Bumble from $6.00 to $7.50 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Bank of America raised their price objective on Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $5.00 price objective on shares of Bumble in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.63.

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.