BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder John S. Johnson III Sells 50,000 Shares

Key Points

• John S. Johnson III, a major shareholder of BuzzFeed, sold 50,000 shares at an average price of $2.45, valuing the transaction at $122,500 and reducing his ownership by 4.58%.
• BuzzFeed's stock recently traded down to $2.38, with a one-year trading range between $1.61 and $5.68.
• Numerous institutional investors have increased their stakes in BuzzFeed, with Renaissance Technologies LLC boosting its position by 359.5% during the last quarter.

BuzzFeed, Inc. (NASDAQ:BZFD - Get Free Report) major shareholder John S. Johnson III sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $2.45, for a total value of $122,500.00. Following the sale, the insider owned 1,041,195 shares of the company's stock, valued at approximately $2,550,927.75. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

BuzzFeed Stock Performance

NASDAQ:BZFD traded down $0.13 during trading on Tuesday, reaching $2.29. The company's stock had a trading volume of 190,838 shares, compared to its average volume of 245,177. The firm has a market cap of $88.22 million, a price-to-earnings ratio of 6.94 and a beta of 3.46. The firm has a 50 day moving average of $2.16 and a 200-day moving average of $2.15. BuzzFeed, Inc. has a 12 month low of $1.61 and a 12 month high of $5.68.

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

Analysts Set New Price Targets

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

Institutional Trading of BuzzFeed

Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in shares of BuzzFeed in the 4th quarter valued at about $37,000. Bank of America Corp DE grew its position in BuzzFeed by 1,615.5% during the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the company's stock worth $38,000 after acquiring an additional 13,312 shares during the last quarter. R Squared Ltd lifted its holdings in BuzzFeed by 222.2% in the 1st quarter. R Squared Ltd now owns 15,080 shares of the company's stock worth $32,000 after buying an additional 10,400 shares during the period. EWA LLC purchased a new stake in BuzzFeed in the 1st quarter worth approximately $36,000. Finally, Naviter Wealth LLC purchased a new position in shares of BuzzFeed in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 37.64% of the company's stock.

BuzzFeed Company Profile

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.