Wealthfront Advisers LLC Makes New $164,000 Investment in Bumble Inc. (NASDAQ:BMBL)

Wealthfront Advisers LLC bought a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the 4th quarter, HoldingsChannel.com reports. The fund bought 20,161 shares of the company’s stock, valued at approximately $164,000.

Several other large investors also recently bought and sold shares of the stock. Rhumbline Advisers grew its position in Bumble by 1.4% during the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after purchasing an additional 2,157 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares during the last quarter. Aigen Investment Management LP boosted its holdings in shares of Bumble by 14.2% in the 4th quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after acquiring an additional 3,853 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Bumble by 14.2% in the 4th quarter. QRG Capital Management Inc. now owns 44,126 shares of the company’s stock valued at $359,000 after acquiring an additional 5,498 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after acquiring an additional 6,325 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMBL. Citigroup dropped their price objective on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Susquehanna dropped their price objective on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Evercore ISI decreased their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their target price on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday. Finally, Royal Bank of Canada decreased their target price on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average target price of $7.25.

Bumble Stock Performance

NASDAQ:BMBL opened at $5.01 on Tuesday. The company has a fifty day moving average of $6.89 and a two-hundred day moving average of $7.24. The stock has a market capitalization of $528.79 million, a PE ratio of -1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $12.49.

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.