Robert W. Baird initiated coverage on shares of Bumble (NASDAQ:BMBL – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. The brokerage issued an outperform rating and a $23.00 price objective on the stock.
Several other equities research analysts have also issued reports on BMBL. UBS Group boosted their price target on shares of Bumble from $24.00 to $25.00 and gave the company a neutral rating in a report on Thursday, February 23rd. Royal Bank of Canada boosted their price target on shares of Bumble from $23.00 to $27.00 in a report on Thursday, February 23rd. Bank of America initiated coverage on shares of Bumble in a report on Monday, December 12th. They issued a buy rating and a $29.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bumble from $22.00 to $27.00 in a report on Monday, January 30th. Finally, Raymond James boosted their price target on shares of Bumble from $24.00 to $29.00 and gave the company an outperform rating in a report on Thursday, February 23rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $27.75.
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Bumble Trading Down 0.6 %
Shares of BMBL stock opened at $18.55 on Tuesday. The firm has a market capitalization of $2.40 billion, a P/E ratio of -30.41 and a beta of 1.83. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.25. The firm's fifty day simple moving average is $22.00 and its 200 day simple moving average is $22.55. Bumble has a 1 year low of $17.62 and a 1 year high of $39.33.
Insider Activity
In other news, major shareholder Holdings Gp Man Blackstone III sold 11,750,000 shares of the company's stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $22.17, for a total value of $260,497,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.21% of the stock is currently owned by company insiders.
Institutional Trading of Bumble
A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Vanguard Group Inc. increased its stake in Bumble by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,816,601 shares of the company's stock worth $167,979,000 after purchasing an additional 102,126 shares in the last quarter. BlackRock Inc. increased its stake in Bumble by 0.6% during the 3rd quarter. BlackRock Inc. now owns 5,707,035 shares of the company's stock worth $122,644,000 after purchasing an additional 34,398 shares in the last quarter. Marshall Wace LLP boosted its position in Bumble by 110.6% during the 4th quarter. Marshall Wace LLP now owns 3,222,445 shares of the company's stock worth $67,832,000 after acquiring an additional 1,691,993 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Bumble by 28.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,361,019 shares of the company's stock worth $66,463,000 after acquiring an additional 521,830 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Bumble by 1.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,322,215 shares of the company's stock worth $49,903,000 after acquiring an additional 30,865 shares during the last quarter.
About Bumble
(Get Rating)
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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.
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