Vanguard Group Inc. Sells 601,228 Shares of Bumble Inc. $BMBL

Key Points

• Vanguard Group Inc. has reduced its stake in Bumble Inc. by 6.8% in Q1, now holding 8,263,021 shares valued at approximately $35.86 million.
• Major shareholders sold 16,689,884 shares of Bumble on August 13th at an average price of $6.26, totaling over $104 million in transactions.
• Despite a negative net margin of 82.41%, Bumble reported earnings of $0.64 EPS for the last quarter, exceeding analysts' expectations of $0.37 EPS.

Vanguard Group Inc. lessened its position in Bumble Inc. (NASDAQ:BMBL - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,263,021 shares of the company's stock after selling 601,228 shares during the period. Vanguard Group Inc. owned approximately 7.83% of Bumble worth $35,862,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BMBL. Teacher Retirement System of Texas acquired a new stake in shares of Bumble in the 1st quarter worth about $49,000. Tyche Wealth Partners LLC acquired a new stake in shares of Bumble in the 1st quarter worth about $52,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Bumble in the 1st quarter worth about $54,000. Tower Research Capital LLC TRC increased its holdings in shares of Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock worth $60,000 after acquiring an additional 1,249 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in shares of Bumble in the 1st quarter worth about $62,000. Institutional investors and hedge funds own 94.85% of the company's stock.

Insider Buying and Selling at Bumble

In other news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the transaction, the chief executive officer owned 1,598,258 shares of the company's stock, valued at approximately $10,005,095.08. This represents a 46.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder - Nq L.L.C. Btoa sold 16,689,884 shares of the stock in a transaction that occurred on 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 in the last 90 days. Company insiders own 15.84% of the company's stock.

Analysts Set New Price Targets

BMBL has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $5.00 price target on shares of Bumble in a research report on Tuesday, June 3rd. Wells Fargo & Company reiterated a "positive" rating on shares of Bumble in a research report on Friday, June 27th. Morgan Stanley boosted their price target on Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Bank of America upped their price objective on Bumble from $5.25 to $5.50 and gave the company an "underperform" rating in a report on Wednesday, July 2nd. Finally, Zacks Research upgraded Bumble to a "hold" rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.63.

Bumble Trading Down 2.5%

Shares of Bumble stock traded down $0.16 on Friday, reaching $6.17. 4,497,597 shares of the company were exchanged, compared to its average volume of 4,633,779. The stock has a fifty day moving average price of $6.81 and a 200-day moving average price of $5.66. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $9.22. The firm has a market capitalization of $641.74 million, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.96.

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, beating the consensus estimate of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million for the quarter, compared to analysts' expectations of $243.72 million. During the same period in the previous year, the company posted $0.22 EPS. Bumble's revenue was down 7.6% on a year-over-year basis. On average, analysts expect that Bumble Inc. will post 4.19 EPS for the current year.

Bumble 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.