Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 7,477,500 Shares

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Stock Performance

Shares of Bumble stock remained flat at $2.96 on Thursday. The stock had a trading volume of 6,144,114 shares, compared to its average volume of 2,910,568. The firm has a market cap of $384.27 million, a P/E ratio of -0.51, a price-to-earnings-growth ratio of 0.10 and a beta of 1.89. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.58. Bumble Inc. has a one year low of $2.61 and a one year high of $8.64. The firm’s 50 day moving average is $3.45 and its 200-day moving average is $3.41.

Bumble (NASDAQ:BMBL) last issued its earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Bumble had a negative net margin of 72.04% and a positive return on equity of 32.66%. The business had revenue of $212.38 million for the quarter, compared to the consensus estimate of $211.59 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. Analysts predict that Bumble Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMBL. Royal Bank Of Canada restated a “sector perform” rating and issued a $5.00 price target on shares of Bumble in a research note on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of Bumble from $3.50 to $4.00 and gave the stock an “equal weight” rating in a report on Thursday, March 12th. BTIG Research reissued a “neutral” rating on shares of Bumble in a report on Monday, March 16th. William Blair restated an “outperform” rating on shares of Bumble in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. raised Bumble from an “underweight” rating to a “neutral” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $4.33.

Hedge Funds Weigh In On Bumble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMBL. Royal Bank of Canada increased its position in shares of Bumble by 409.3% in the first quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock worth $1,410,000 after purchasing an additional 261,281 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Bumble during the first quarter valued at approximately $117,000. JPMorgan Chase & Co. increased its stake in shares of Bumble by 709.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock valued at $4,704,000 after purchasing an additional 625,631 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Bumble during the 2nd quarter worth $392,000. Finally, New York State Common Retirement Fund grew its position in Bumble by 31.1% in the second quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock valued at $169,000 after acquiring an additional 6,077 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Company Profile

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.