BuzzFeed (NASDAQ:BZFD) Trading Up 3.9% - Here's What Happened

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) traded up 3.9% during trading on Monday . The stock traded as high as $2.44 and last traded at $2.37. 299,680 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 528,530 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded shares of BuzzFeed to a "strong-buy" rating in a research note on Tuesday, June 10th.

BuzzFeed Price Performance

The stock has a market cap of $91.70 million, a price-to-earnings ratio of 7.21 and a beta of 3.46. The business's fifty day simple moving average is $2.14 and its 200 day simple moving average is $2.16.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.33) earnings per share for the quarter. BuzzFeed had a negative return on equity of 24.44% and a net margin of 6.37%.

Insider Activity

In other BuzzFeed news, Director Janet L. Rolle sold 24,474 shares of BuzzFeed stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $2.11, for a total transaction of $51,640.14. Following the transaction, the director owned 122,223 shares of the company's stock, valued at $257,890.53. The trade was a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder John S. Johnson III sold 50,000 shares of BuzzFeed stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $2.45, for a total value of $122,500.00. Following the transaction, the insider directly owned 1,041,195 shares in the company, valued at approximately $2,550,927.75. This trade represents a 4.58% decrease in their position. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BuzzFeed

A number of large investors have recently added to or reduced their stakes in BZFD. Cubist Systematic Strategies LLC lifted its holdings in shares of BuzzFeed by 1,461.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 251,973 shares of the company's stock worth $673,000 after buying an additional 235,831 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of BuzzFeed during the fourth quarter worth $391,000. Marshall Wace LLP bought a new position in BuzzFeed in the fourth quarter valued at about $597,000. Dimensional Fund Advisors LP boosted its holdings in BuzzFeed by 1,006.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 210,909 shares of the company's stock valued at $563,000 after acquiring an additional 191,841 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in BuzzFeed by 359.5% in the fourth quarter. Renaissance Technologies LLC now owns 792,318 shares of the company's stock valued at $2,115,000 after buying an additional 619,892 shares during the period. Institutional investors 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.