Principal Financial Group Inc. Buys Shares of 142,832 Bumble Inc. (NASDAQ:BMBL)

Principal Financial Group Inc. bought a new position in Bumble Inc. (NASDAQ:BMBL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 142,832 shares of the company's stock, valued at approximately $911,000. Principal Financial Group Inc. owned approximately 0.11% of Bumble as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Bumble in the second quarter worth $64,000. SG Americas Securities LLC purchased a new position in Bumble in the third quarter worth $71,000. Capital Management Associates Inc purchased a new position in Bumble in the third quarter worth $74,000. Meeder Asset Management Inc. purchased a new position in Bumble in the second quarter worth $82,000. Finally, Headlands Technologies LLC purchased a new stake in Bumble during the second quarter valued at about $94,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bumble from $11.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Hsbc Global Res lowered shares of Bumble from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Bumble from $16.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. BTIG Research lowered shares of Bumble from a "buy" rating to a "neutral" rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus upped their price target on shares of Bumble from $6.50 to $7.00 and gave the company a "hold" rating in a research 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.38.

Bumble Trading Up 3.4 %

BMBL stock traded up $0.27 during trading on Friday, reaching $8.18. The company had a trading volume of 1,287,142 shares, compared to its average volume of 2,790,711. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.90. The company has a market cap of $884.93 million, a P/E ratio of -1.67 and a beta of 1.62. The business has a 50 day moving average of $7.09 and a 200 day moving average of $8.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

Bumble 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.