Axa S.A. Boosts Position in Bumble Inc. (NASDAQ:BMBL)

Axa S.A. increased its holdings in Bumble Inc. (NASDAQ:BMBL) by 1,589.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,064 shares of the company’s stock after acquiring an additional 179,757 shares during the quarter. Axa S.A. owned about 0.15% of Bumble worth $2,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Bumble in the 2nd quarter worth $111,000. Point72 Asset Management L.P. purchased a new position in shares of Bumble during the second quarter valued at about $24,121,000. Ensign Peak Advisors Inc raised its stake in Bumble by 9.1% in the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock worth $603,000 after buying an additional 4,800 shares in the last quarter. MQS Management LLC bought a new position in Bumble in the second quarter worth about $201,000. Finally, Hsbc Holdings PLC lifted its holdings in Bumble by 41.8% in the second quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock worth $631,000 after buying an additional 17,888 shares during the period. Institutional investors own 94.85% of the company’s stock.

Bumble Price Performance

BMBL opened at $6.38 on Tuesday. The company’s 50-day simple moving average is $6.94 and its two-hundred day simple moving average is $9.34. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.90. The stock has a market capitalization of $805.15 million, a P/E ratio of 37.53 and a beta of 1.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, analysts predict that Bumble Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMBL. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday. Citigroup cut shares of Bumble from a “buy” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America cut shares of Bumble from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $12.00 to $5.50 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bumble presently has an average rating of “Hold” and an average target price of $8.50.

About Bumble

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.