Insider Selling: Rumble Inc. (NASDAQ:RUM) CTO Sells 3,817,165 Shares of Stock

Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki sold 3,817,165 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $28,628,737.50. Following the completion of the transaction, the chief technology officer now directly owns 4,592 shares in the company, valued at approximately $34,440. This trade represents a 99.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rumble Stock Down 8.8 %

Rumble stock opened at $11.17 on Wednesday. The business has a fifty day moving average of $11.32 and a two-hundred day moving average of $7.78. The firm has a market cap of $4.35 billion, a P/E ratio of -17.73 and a beta of 0.50. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of Rumble

Several hedge funds and other institutional investors have recently made changes to their positions in RUM. Vanguard Group Inc. lifted its holdings in shares of Rumble by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock valued at $103,723,000 after purchasing an additional 229,294 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Rumble during the 4th quarter valued at $468,000. MML Investors Services LLC purchased a new stake in shares of Rumble during the 3rd quarter valued at $185,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Rumble in the 3rd quarter valued at $184,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RUM shares. Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th. Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price for the company.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.