Envestnet Asset Management Inc. increased its stake in shares of Bumble Inc. (NASDAQ:BMBL – Get a score) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,659 shares of the company’s stock after buying an additional 9,189 shares during the quarter. The holdings of Envestnet Asset Management Inc. in Bumble were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in Bumble during the second quarter worth about $76,000. ProShare Advisors LLC bought a new stake in Bumble during the second quarter worth about $348,000. Providence Equity Partners LLC bought a new stake in Bumble during the first quarter worth about $30,879,000. CTC Capital Management LLC purchased a new stake in Bumble during the first quarter worth about $243,000. Finally, RBF Capital LLC bought a new stake in Bumble during the 1st quarter valued at about $1,966,000.
Changes in analyst ratings
Several research firms recently commented on BMBL. Royal Bank of Canada cut their price objective on Bumble from $33.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Piper Sandler cut their price target on Bumble from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, November 10th. Evercore ISI cut their price target on Bumble from $34.00 to $25.00 in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft cut their price target on Bumble from $27.00 to $22.00 in a report on Thursday, November 10th. Finally, Cowen cut their price target on Bumble from $38.00 to $33.00 in a report on Thursday, November 10th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.88, according to MarketBeat .
Bumble Stock Performance
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bumble stock opened at $22.19 on Tuesday. The stock’s 50-day moving average price is $23.28 and its 200-day moving average price is $27.55. The company has a market cap of $2.88 billion, a PE ratio of 138.70 and a beta of 1.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.24, and a current ratio of 3.24. Bumble Inc. it has a one year low of $15.41 and a one year high of $39.33.
Bumble Company Profile
Bumble Inc provides online dating and social networking platforms in North America, Europe and internationally. Owns and operates websites and apps that offer subscription dating products and in-app purchases. The company operates two apps, Bumble and Badoo with approximately 40 million monthly users, as well as Fruitz, an online dating app.
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