Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki Sells 3,817,165 Shares

Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki sold 3,817,165 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 owns 4,592 shares of the company’s stock, valued at approximately $34,440. The trade was a 99.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rumble Price Performance

Shares of RUM traded down $1.08 during trading hours on Tuesday, hitting $11.17. The stock had a trading volume of 3,345,675 shares, compared to its average volume of 4,398,688. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40. The firm has a market capitalization of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50. The stock has a fifty day moving average price of $11.32 and a 200 day moving average price of $7.78.

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

Hedge Funds Weigh In On Rumble

Several institutional investors and hedge funds have recently bought and sold shares of RUM. Cypress Point Wealth Management LLC purchased a new position in Rumble during the third quarter valued at $98,000. RIA Advisory Group LLC purchased a new position in shares of Rumble in the third quarter valued at about $81,000. Charles Schwab Investment Management Inc. lifted its position in shares of Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after acquiring an additional 24,879 shares in the last quarter. FMR LLC lifted its position in shares of Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after acquiring an additional 20,343 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after acquiring an additional 5,348 shares in the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group assumed coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price for the company.

About Rumble

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.