Renaissance Technologies LLC Has $3.18 Million Position in Bumble Inc. (NASDAQ:BMBL)

Renaissance Technologies LLC boosted its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 223.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 391,100 shares of the company's stock after buying an additional 270,093 shares during the period. Renaissance Technologies LLC owned approximately 0.36% of Bumble worth $3,184,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company's stock valued at $14,872,000 after purchasing an additional 14,889 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its position in Bumble by 18.4% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company's stock worth $3,960,000 after buying an additional 75,635 shares in the last quarter. Principal Financial Group Inc. lifted its position in Bumble by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company's stock worth $1,293,000 after buying an additional 15,958 shares in the last quarter. Rhumbline Advisers lifted its position in Bumble by 1.4% during the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company's stock worth $1,262,000 after buying an additional 2,157 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock worth $841,000 after buying an additional 2,760 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Bumble from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Piper Sandler dropped their target price on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Susquehanna dropped their target price on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wolfe Research cut shares of Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Evercore ISI decreased their price target on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Bumble presently has an average rating of "Hold" and an average price target of $6.82.

Bumble Price Performance

NASDAQ:BMBL traded down $0.10 on Tuesday, hitting $4.33. The company had a trading volume of 383,208 shares, compared to its average volume of 3,096,386. The stock has a market capitalization of $456.49 million, a price-to-earnings ratio of -0.88 and a beta of 1.77. 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 50 day moving average of $4.56 and a two-hundred day moving average of $6.75. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $12.49.

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.