Accel Growth Fund V Associates L.L.C. Takes $16.17 Billion Position in Bumble Inc. $BMBL

Accel Growth Fund V Associates L.L.C. purchased a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,054,531 shares of the company's stock, valued at approximately $16,174,499,000. Bumble comprises 18.0% of Accel Growth Fund V Associates L.L.C.'s holdings, making the stock its 2nd biggest holding. Accel Growth Fund V Associates L.L.C. owned about 3.89% of Bumble at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMBL. Saba Capital Management L.P. increased its position in Bumble by 52.6% in the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company's stock valued at $19,055,000 after acquiring an additional 1,838,923 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bumble by 10.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,882,350 shares of the company's stock valued at $29,735,000 after purchasing an additional 466,646 shares in the last quarter. Renaissance Technologies LLC raised its position in Bumble by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock worth $13,737,000 after purchasing an additional 1,378,487 shares during the last quarter. Bank of America Corp DE raised its position in Bumble by 36.2% in the 3rd quarter. Bank of America Corp DE now owns 2,528,128 shares of the company's stock worth $15,396,000 after purchasing an additional 671,907 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Bumble by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,857,944 shares of the company's stock worth $6,634,000 after buying an additional 39,625 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company's stock.

Bumble Stock Performance

NASDAQ BMBL opened at $2.80 on Friday. The stock has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $3.21. The company has a market capitalization of $369.52 million, a PE ratio of -0.66, a P/E/G ratio of 0.15 and a beta of 1.87. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble Inc. has a 12 month low of $2.54 and a 12 month high of $7.32.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The company had revenue of $210.53 million for the quarter, compared to the consensus estimate of $210.46 million. During the same quarter last year, the business posted ($2.45) EPS. Bumble's quarterly revenue was down 15.2% on a year-over-year basis. Research analysts forecast that Bumble Inc. will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James Financial reissued a "market perform" rating on shares of Bumble in a research note on Thursday, June 25th. UBS Group cut their price target on Bumble from $4.50 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. The Goldman Sachs Group decreased their price target on Bumble from $5.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Susquehanna lowered their price objective on Bumble from $3.50 to $3.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen cut Bumble from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $3.87.

Insider Activity

In other news, major shareholder - Nq L.L.C. Btoa sold 7,477,500 shares of Bumble stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company's stock, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of Bumble stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,954,026 shares of company stock valued at $113,182,633. 15.35% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source