Geode Capital Management LLC Sells 144,308 Shares of Bumble Inc. (NASDAQ:BMBL)

Geode Capital Management LLC trimmed its holdings in Bumble Inc. (NASDAQ:BMBL - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,186,370 shares of the company's stock after selling 144,308 shares during the quarter. Geode Capital Management LLC owned approximately 2.02% of Bumble worth $17,801,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BMBL. FNY Investment Advisers LLC acquired a new stake in shares of Bumble in the 4th quarter worth approximately $56,000. Corient Private Wealth LLC purchased a new stake in Bumble during the fourth quarter worth $97,000. Olympiad Research LP purchased a new position in shares of Bumble in the fourth quarter valued at $129,000. AlphaQuest LLC raised its stake in shares of Bumble by 43,248.7% during the 4th quarter. AlphaQuest LLC now owns 16,906 shares of the company's stock worth $138,000 after buying an additional 16,867 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Bumble in the 4th quarter valued at about $143,000. Hedge funds and other institutional investors own 94.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Stifel Nicolaus decreased their target price on Bumble from $6.00 to $4.00 and set a "hold" rating for the company in a research report on Wednesday. Piper Sandler dropped their price target on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Evercore ISI cut their target price on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Bumble from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.95.

Bumble Stock Down 0.1 %

BMBL traded down $0.01 during midday trading on Thursday, reaching $4.38. 377,405 shares of the company were exchanged, compared to its average volume of 3,106,502. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The company's fifty day moving average price is $4.74 and its 200 day moving average price is $6.79. Bumble Inc. has a one year low of $3.55 and a one year high of $12.49. The company has a market cap of $461.76 million, a price-to-earnings ratio of -0.90 and a beta of 1.77.

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.