Thumzup Media (NASDAQ:TZUP) Posts Quarterly Earnings Results

Key Points

• Thumzup Media reported a quarterly loss of ($0.12) earnings per share (EPS), leading to a 5.2% drop in its stock price, trading at $9.57.
• CEO Robert A. Steele sold 2.5 million shares at an average price of $0.50, resulting in an 80.59% decrease in their shareholding.
• Geode Capital Management LLC increased its stake in Thumzup Media by 27.4%, owning 43,596 shares valued at approximately $306,000.

Thumzup Media (NASDAQ:TZUP - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share for the quarter, Zacks reports.

Thumzup Media Price Performance

Thumzup Media stock traded down $3.7380 during trading hours on Tuesday, hitting $4.7620. The stock had a trading volume of 5,500,203 shares, compared to its average volume of 316,236. The stock has a market capitalization of $53.62 million and a price-to-earnings ratio of -6.39. Thumzup Media has a 1-year low of $2.02 and a 1-year high of $16.49. The stock's fifty day moving average is $10.39 and its two-hundred day moving average is $6.84.

Insiders Place Their Bets

In other Thumzup Media news, CEO Robert A. Steele sold 2,500,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $0.50, for a total value of $1,250,000.00. Following the sale, the chief executive officer owned 602,000 shares of the company's stock, valued at approximately $301,000. This represents a 80.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 43.50% of the company's stock.

Institutional Trading of Thumzup Media

A hedge fund recently bought a new stake in Thumzup Media stock. Marshall Wace LLP acquired a new stake in Thumzup Media Corporation (NASDAQ:TZUP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,576 shares of the company's stock, valued at approximately $207,000. Marshall Wace LLP owned approximately 0.31% of Thumzup Media as of its most recent SEC filing.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Thumzup Media from a "sell" rating to a "hold" rating in a report on Saturday.

About Thumzup Media

Thumzup Media Corporation is a provider of social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media. Thumzup Media Corporation is based in Los Angeles, CA.