Barclays PLC Decreases Position in Bumble Inc. (NASDAQ:BMBL)

Barclays PLC cut its position in Bumble Inc. (NASDAQ:BMBL - Free Report) by 96.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,618 shares of the company's stock after selling 5,058,731 shares during the quarter. Barclays PLC owned 0.17% of Bumble worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company's stock valued at $14,872,000 after purchasing an additional 14,889 shares during the period. Quantinno Capital Management LP acquired a new stake in Bumble in the 3rd quarter valued at about $90,000. Prentice Capital Management LP boosted its stake in shares of Bumble by 54.1% in the 3rd quarter. Prentice Capital Management LP now owns 242,844 shares of the company's stock valued at $1,549,000 after buying an additional 85,304 shares during the period. Janus Henderson Group PLC grew its position in shares of Bumble by 9.3% during the third quarter. Janus Henderson Group PLC now owns 174,926 shares of the company's stock worth $1,116,000 after buying an additional 14,887 shares in the last quarter. Finally, Cinctive Capital Management LP increased its stake in shares of Bumble by 25.7% during the third quarter. Cinctive Capital Management LP now owns 122,926 shares of the company's stock worth $784,000 after buying an additional 25,150 shares during the period. Institutional investors and hedge funds own 94.85% of the company's stock.

Analysts Set New Price Targets

BMBL has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Bumble from $7.50 to $8.00 and gave the stock an "equal weight" rating in a research note on Monday. The Goldman Sachs Group upped their price objective on Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Piper Sandler reissued a "neutral" rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Susquehanna boosted their price objective on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bumble currently has an average rating of "Hold" and an average target price of $8.50.

Bumble Price Performance

Shares of BMBL traded down $0.01 during trading hours on Tuesday, reaching $7.47. 1,467,700 shares of the company traded hands, compared to its average volume of 1,896,650. The stock has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $7.65. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.65. The stock has a market capitalization of $808.12 million, a PE ratio of -1.53 and a beta of 1.70. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.