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 that occurred on Thursday, March 13th. The stock was sold at an average price of $2.01, for a total transaction of $123,510.48. Following the sale, the insider now owns 3,674,745 shares in the company, valued at $7,386,237.45. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

BuzzFeed Stock Up 12.2 %

Shares of BZFD opened at $2.20 on Monday. The stock has a market capitalization of $83.60 million, a P/E ratio of -1.52 and a beta of 3.73. BuzzFeed, Inc. has a twelve month low of $1.26 and a twelve month high of $5.68. The company has a 50 day moving average of $2.42 and a 200-day moving average of $2.80.

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

Hedge Funds Weigh In On BuzzFeed

Several hedge funds have recently made changes to their positions in BZFD. Squarepoint Ops LLC bought a new position in shares of BuzzFeed in the fourth quarter valued at $198,000. Two Sigma Investments LP bought a new position in shares of BuzzFeed in the fourth quarter valued at $391,000. Shay Capital LLC grew its stake in shares of BuzzFeed by 61.7% in the fourth quarter. Shay Capital LLC now owns 70,715 shares of the company’s stock valued at $189,000 after buying an additional 26,981 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of BuzzFeed in the fourth quarter valued at $211,000. Finally, Millennium Management LLC bought a new position in shares of BuzzFeed in the fourth quarter valued at $289,000. 37.64% of the stock is owned by institutional investors.

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.