Insider Selling: Rumble Inc. (NASDAQ:RUM) CFO Sells $51,213,150.00 in Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the completion of the transaction, the chief financial officer now directly owns 64,210 shares in the company, valued at approximately $481,575. This represents a 99.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rumble Stock Up 4.7 %

Rumble stock opened at $11.30 on Friday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The company’s 50-day moving average price is $11.47 and its two-hundred day moving average price is $7.84. The stock has a market cap of $4.40 billion, a P/E ratio of -17.94 and a beta of 0.50.

Rumble (NASDAQ:RUM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 business had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. During the same period in the prior year, the business posted ($0.14) earnings per share. Equities analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th. Maxim Group assumed coverage on shares of Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 worth $103,723,000 after acquiring an additional 229,294 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Rumble during the 4th quarter worth approximately $2,540,000. Geode Capital Management LLC boosted its position 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 worth $5,553,000 after acquiring an additional 130,956 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Rumble during the 4th quarter worth approximately $468,000. Finally, MML Investors Services LLC acquired a new stake in shares of Rumble during the 3rd quarter worth approximately $185,000. 26.15% of the stock is owned by institutional investors.

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.