Whitney Wolfe Herd Sells 1,365,116 Shares of Bumble (NASDAQ:BMBL) Stock

Key Points

• Whitney Wolfe Herd, CEO of Bumble Inc., sold 1,365,116 shares of the company's stock on August 13th, 2023, a transaction valued at approximately $8.55 million and representing a 46.07% decrease in her ownership stake.
• Bumble reported an earnings per share (EPS) of $0.64 for the quarter ending August 6th, exceeding expectations, although the revenue was down 7.6% year-over-year.
• Analysts maintain a consensus rating of "Hold" on Bumble shares, with a price target averaging around $6.69.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) CEO Whitney Wolfe Herd sold 1,365,116 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 transaction of $8,545,626.16. Following the completion of the sale, the chief executive officer directly owned 1,598,258 shares of the company's stock, valued at $10,005,095.08. This represents a 46.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Bumble Trading Up 2.2%

Shares of BMBL traded up $0.14 during mid-day trading on Wednesday, reaching $6.52. The stock had a trading volume of 6,511,338 shares, compared to its average volume of 4,603,225. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. Bumble Inc. has a 52-week low of $3.55 and a 52-week high of $9.22. The business's fifty day moving average is $6.64 and its 200 day moving average is $5.78. The firm has a market cap of $678.15 million, a price-to-earnings ratio of -1.33, a P/E/G ratio of 0.89 and a beta of 1.96.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Bumble's quarterly revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts predict that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Bumble from $7.00 to $7.50 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Morgan Stanley upped their target price on shares of Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Bumble in a research report on Friday, June 27th. Susquehanna reaffirmed a "neutral" rating and issued a $7.00 target price (up previously from $5.00) on shares of Bumble in a research report on Monday, August 11th. Finally, Zacks Research raised shares of Bumble to a "hold" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.63.

Institutional Trading of Bumble

Several hedge funds have recently made changes to their positions in BMBL. Maple Rock Capital Partners Inc. acquired a new stake in shares of Bumble during the second quarter worth about $30,127,000. RPD Fund Management LLC acquired a new stake in shares of Bumble during the fourth quarter worth about $30,940,000. Ameriprise Financial Inc. lifted its position in shares of Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after purchasing an additional 1,298,630 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Bumble during the second quarter worth about $7,337,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Bumble by 3,714.4% during the second quarter. Cubist Systematic Strategies LLC now owns 923,093 shares of the company's stock worth $6,083,000 after purchasing an additional 898,893 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company's stock.

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.