BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder Sells $123,510.48 in Stock

BuzzFeed, Inc. (NASDAQ:BZFD) major shareholder Patrick J. Kerins sold 61,448 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $2.01, for a total value of $123,510.48. Following the sale, the insider now directly owns 3,674,745 shares of the company’s stock, valued at $7,386,237.45. This represents a 1.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BuzzFeed Price Performance

Shares of BuzzFeed stock opened at $2.20 on Monday. The business has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $2.80. BuzzFeed, Inc. has a 1 year low of $1.26 and a 1 year high of $5.68. The company has a market capitalization of $83.60 million, a price-to-earnings ratio of -1.52 and a beta of 3.73.

BuzzFeed (NASDAQ:BZFD) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.10) earnings per share (EPS) for the quarter. BuzzFeed had a negative net margin of 22.51% and a negative return on equity of 33.17%. The business had revenue of $56.20 million for the quarter.

Institutional Investors Weigh In On BuzzFeed

Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of BuzzFeed during the fourth quarter worth $37,000. Bank of America Corp DE lifted its holdings in shares of BuzzFeed by 1,615.5% during the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock worth $38,000 after buying an additional 13,312 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of BuzzFeed during the fourth quarter worth $55,000. Graham Capital Management L.P. acquired a new stake in shares of BuzzFeed during the fourth quarter worth $75,000. Finally, Virtu Financial LLC acquired a new stake in shares of BuzzFeed during the fourth quarter worth $83,000. Institutional investors and hedge funds own 37.64% of the company’s stock.

About BuzzFeed

BuzzFeed, Inc, a digital media company, distributes content across owned and operated, as well as third-party platforms. The company offers BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a pocket friendly newsroom; Tasty, a platform for food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content.