Wojciech Hlibowicki Sells 3,817,165 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM - Get Free Report) CTO Wojciech Hlibowicki sold 3,817,165 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $28,628,737.50. Following the completion of the sale, the chief technology officer now directly owns 4,592 shares of the company's stock, valued at $34,440. The trade was a 99.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rumble Stock Up 1.9 %

NASDAQ:RUM traded up $0.22 during midday trading on Friday, reaching $11.52. The stock had a trading volume of 2,609,559 shares, compared to its average volume of 3,935,989. The stock has a market cap of $4.49 billion, a P/E ratio of -18.29 and a beta of 0.50. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40. The firm has a fifty day simple moving average of $11.56 and a two-hundred day simple moving average of $7.86.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to analysts' expectations of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, sell-side analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rumble

Several institutional investors have recently made changes to their positions in RUM. Geode Capital Management LLC lifted its stake in shares of Rumble by 14.5% in the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company's stock valued at $5,553,000 after purchasing an additional 130,956 shares during the period. Barclays PLC lifted its position in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock worth $2,564,000 after acquiring an additional 24,879 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Rumble in the 3rd quarter worth approximately $185,000. Finally, FMR LLC increased its stake in Rumble by 995.3% in the 3rd quarter. FMR LLC now owns 22,387 shares of the company's stock valued at $120,000 after purchasing an additional 20,343 shares in the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on RUM shares. Wedbush reiterated a "neutral" rating and set a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group initiated coverage on Rumble in a report on Wednesday, January 15th. They set a "buy" rating and a $20.00 price target on the stock.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.