State Street Corp Has $16.56 Million Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

State Street Corp cut its position in shares of Bumble Inc. (NASDAQ:BMBL) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,596,178 shares of the company’s stock after selling 38,799 shares during the period. State Street Corp’s holdings in Bumble were worth $16,564,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Bumble by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock worth $7,434,000 after acquiring an additional 83,397 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Bumble during the 2nd quarter worth about $64,000. Rothschild Investment LLC bought a new stake in Bumble during the 2nd quarter valued at approximately $401,000. nVerses Capital LLC grew its holdings in Bumble by 128.3% in the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $127,000 after buying an additional 6,800 shares during the last quarter. Finally, Versor Investments LP bought a new position in Bumble in the 2nd quarter worth approximately $324,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Trading Up 0.5 %

Shares of BMBL stock opened at $7.92 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $856.80 million, a P/E ratio of -1.62 and a beta of 1.71. Bumble Inc. has a 12-month low of $4.80 and a 12-month high of $15.33. The firm has a 50-day moving average price of $7.93 and a 200 day moving average price of $7.94.

Analysts Set New Price Targets

BMBL has been the subject of several research reports. Susquehanna increased their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Piper Sandler reissued a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. KeyCorp cut shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus upped their price target on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and a consensus price target of $8.38.

Bumble Company 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.