1,104,094 Shares in Bumble Inc. $BMBL Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB purchased 1,104,094 shares of Bumble Inc., valued at approximately $7.3 million, representing about 1.07% ownership in the company.
• Insider transactions are notable, with major shareholders selling 16.7 million shares at an average price of $6.26, totaling over $104 million in sales.
• Analysts have mixed opinions on Bumble's stock, with target prices varying between $5.25 and $7.50, indicating a consensus rating of "Reduce" and a current price target of $6.46.

Nordea Investment Management AB acquired a new position in Bumble Inc. (NASDAQ:BMBL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,104,094 shares of the company's stock, valued at approximately $7,337,000. Nordea Investment Management AB owned approximately 1.07% of Bumble as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Pale Fire Capital SE bought a new stake in shares of Bumble during the 1st quarter valued at about $43,000. Vident Advisory LLC bought a new stake in shares of Bumble during the 1st quarter valued at about $48,000. Teacher Retirement System of Texas bought a new stake in Bumble during the 1st quarter worth approximately $49,000. Tyche Wealth Partners LLC bought a new stake in Bumble during the 1st quarter worth approximately $52,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Bumble during the 1st quarter worth approximately $54,000. 94.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's 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 disclosure for this sale can be found here. Insiders have sold a total of 68,127,359 shares of company stock worth $426,476,076 over the last ninety days. Corporate insiders own 15.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMBL. Bank of America raised their target price on shares of Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price target on Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Citigroup boosted their price target on Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a report on Friday, June 27th. Finally, UBS Group upped their price objective on Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $6.46.

Bumble Stock Performance

Shares of Bumble stock opened at $5.70 on Tuesday. The stock's fifty day moving average is $6.28 and its two-hundred day moving average is $5.92. The company has a market capitalization of $592.86 million, a PE ratio of -1.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.94. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $9.22.

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

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.

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