Charles Schwab Investment Management Inc. Sells 107,081 Shares of Bumble Inc. $BMBL

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Bumble Inc. by 13.8%, owning 669,098 shares after selling 107,081 shares in the first quarter, valuing its remaining stake at approximately $2.9 million.
• Bumble's stock is currently trading at $6.17, with a significant decline in its valuation and a 1-year range between $3.55 and $9.22.
• Insider transactions showed CEO Whitney Wolfe Herd sold over 1.36 million shares of Bumble, while insiders collectively sold 68 million shares worth about $426 million in the past three months.

Charles Schwab Investment Management Inc. lessened its position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669,098 shares of the company's stock after selling 107,081 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Bumble worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BMBL. Teacher Retirement System of Texas bought a new stake in shares of Bumble during the first quarter worth $49,000. Tyche Wealth Partners LLC bought a new position in shares of Bumble during the first quarter worth about $52,000. Kestra Private Wealth Services LLC bought a new position in Bumble in the first quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its stake in Bumble by 20.3% in the fourth 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. Finally, HB Wealth Management LLC acquired a new stake in shares of Bumble in the first quarter valued at approximately $62,000. Institutional investors own 94.85% of the company's stock.

Insider Buying and Selling at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the business's stock in a transaction on 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 document filed with the SEC, which is accessible through this link. Also, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the company'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 68,124,652 shares of company stock worth $426,460,322 over the last three months. 15.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BMBL shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $5.00 price objective on shares of Bumble in a research report on Tuesday, June 3rd. Zacks Research upgraded Bumble to a "hold" rating in a research note on Friday, August 8th. Citigroup boosted their price target on Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Morgan Stanley boosted their price target on Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, UBS Group boosted their price target on Bumble from $6.00 to $7.50 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.63.

Bumble Price Performance

Shares of Bumble stock traded up $0.16 during trading on Wednesday, reaching $6.26. 1,551,563 shares of the company's stock were exchanged, compared to its average volume of 3,381,322. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.30 and a current ratio of 3.30. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $9.22. The company has a market cap of $650.58 million, a P/E ratio of -1.28, a PEG ratio of 0.86 and a beta of 1.95. The firm's 50-day moving average price is $6.85 and its 200 day moving average price is $5.63.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.27. The company had revenue of $248.23 million during the quarter, compared to analysts' expectations of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.Bumble's revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, research analysts anticipate 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.