Insider Selling: Bumble Inc. (NASDAQ:BMBL) CEO Sells 1,365,116 Shares of 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 stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $8,545,626.16. Following the transaction, the chief executive officer owned 1,598,258 shares in the company, valued at $10,005,095.08. The trade was a 46.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bumble Stock Up 1.3%

Shares of BMBL stock traded up $0.08 on Monday, reaching $6.37. 3,705,247 shares of the stock were exchanged, compared to its average volume of 3,367,045. Bumble Inc. has a twelve month low of $3.55 and a twelve month high of $9.22. The company has a market capitalization of $662.54 million, a price-to-earnings ratio of -1.30, a PEG ratio of 0.88 and a beta of 1.96. The business's 50 day moving average price is $6.57 and its 200 day moving average price is $5.78. 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 (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.27. The business had revenue of $248.23 million during the quarter, compared to analysts' expectations of $243.72 million. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The company's revenue was down 7.6% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. As a group, sell-side analysts expect that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Royal Bank Of Canada raised their price objective on Bumble from $7.00 to $7.50 and gave the company an "outperform" rating in a report on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company restated a "positive" rating on shares of Bumble in a research note on Friday, June 27th. Finally, Susquehanna reissued a "neutral" rating and issued a $7.00 target price (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.63.

Institutional Trading of Bumble

A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in Bumble during the fourth quarter valued at approximately $476,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bumble by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company's stock valued at $1,887,000 after acquiring an additional 48,207 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Bumble in the 4th quarter valued at approximately $2,042,000. Envestnet Asset Management Inc. lifted its position in shares of Bumble by 125.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock valued at $717,000 after acquiring an additional 49,050 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Bumble in the 4th quarter valued at approximately $334,000. Institutional investors and hedge funds own 94.85% of the company's stock.

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.