Tiger Cub Chase Coleman is Selling These 5 Tech Stocks

2. Bumble Inc. (NASDAQ:BMBL)

Number of Hedge Fund Holders: 25

Bumble Inc. (NASDAQ:BMBL) is an American company that provides online dating and social networking platforms in North America, Europe, and internationally. Tiger Global added Bumble Inc. (NASDAQ:BMBL) to its portfolio in Q1 2021. In the fourth quarter of 2021, the stake was valued at $33.8 million, which was sold off entirely in Q1 2022.

Morgan Stanley analyst Lauren Schenk lowered the price target on Bumble Inc. (NASDAQ:BMBL) to $28 from $30 and kept an Equal Weight rating on the shares on May 16, following an in-line Q1 report that she noted reflected “no big surprises”. Bumble Inc. (NASDAQ:BMBL)’s full-year revenue is projected to lie at the low end of the guidance because of foreign exchange impact and its full year EBITDA view is slashed due to Google fees, observed the analyst. Though its recent product pipeline “appears interesting” and she sees “more upside than downside from here”, the analyst’s Equal Weight rating on Bumble Inc. (NASDAQ:BMBL) is because of a relative preference for industry peers.

According to the fourth quarter database of Insider Monkey, 25 hedge funds were bullish on Bumble Inc. (NASDAQ:BMBL), down from 35 funds in the prior quarter. In Q1 2022, John Smith Clark’s Southpoint Capital Advisors reported a prominent stake in the company, consisting of 2.6 million shares worth $77.6 million. 

Here is what Baron Funds has to say about Bumble Inc. (NASDAQ:BMBL) in its Q2 2021 investor letter:

“Bumble Inc. is an online dating platform geared toward females with more than 40 million users. Shares declined on its 2021 revenue outlook. Although this exceeded Street estimates, it was likely not as high as investors may have expected. Some uncertainty around the timing of the recovery in in-person dating also pressured shares. We exited our position during the period.”