Charles Schwab Investment Management Inc. Sells 126,822 Shares of Bumble Inc. (NASDAQ:BMBL)

Charles Schwab Investment Management Inc. reduced its position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 810,329 shares of the company's stock after selling 126,822 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of Bumble worth $5,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMBL. Point72 Asset Management L.P. acquired a new position in Bumble in the second quarter valued at about $24,121,000. The Manufacturers Life Insurance Company increased its stake in shares of Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company's stock valued at $21,468,000 after purchasing an additional 297,057 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock worth $1,595,000 after buying an additional 206,215 shares during the last quarter. AXA S.A. grew its holdings in shares of Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company's stock valued at $2,008,000 after purchasing an additional 179,757 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Bumble in the second quarter valued at approximately $1,716,000. Institutional investors own 94.85% of the company's stock.

Bumble Stock Down 0.5 %

BMBL stock traded down $0.04 during midday trading on Friday, hitting $8.24. The stock had a trading volume of 1,282,145 shares, compared to its average volume of 3,029,721. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50-day moving average of $7.73 and a two-hundred day moving average of $8.17. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.90.

Analyst Upgrades and Downgrades

BMBL has been the subject of a number of recent analyst reports. TD Cowen downgraded shares of Bumble from a "buy" rating to a "hold" rating and dropped their target price for the company from $22.00 to $7.50 in a research report on Friday, August 16th. Stifel Nicolaus boosted their price objective on Bumble from $6.50 to $7.00 and gave the company a "hold" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. KeyCorp downgraded Bumble from an "overweight" rating to a "sector weight" rating in a research note on Friday, September 27th. Finally, Citigroup upped their price target on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.38.

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.