Insider Selling: BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder Sells 50,000 Shares of Stock

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 firm'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 completion of the sale, the insider directly owned 1,041,195 shares in the company, valued at approximately $2,550,927.75. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

BuzzFeed Stock Performance

Shares of NASDAQ:BZFD traded down $0.05 during trading on Friday, reaching $2.38. The stock had a trading volume of 74,896 shares, compared to its average volume of 241,272. The business has a fifty day moving average price of $2.14 and a 200-day moving average price of $2.16. BuzzFeed, Inc. has a 1-year low of $1.61 and a 1-year 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) earnings per share (EPS) for the quarter. BuzzFeed had a negative return on equity of 24.44% and a net margin of 6.37%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BZFD. Virtu Financial LLC acquired a new position in shares of BuzzFeed during the 4th quarter valued at about $83,000. Renaissance Technologies LLC boosted its position in shares of BuzzFeed by 359.5% during the 4th quarter. Renaissance Technologies LLC now owns 792,318 shares of the company's stock valued at $2,115,000 after acquiring an additional 619,892 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of BuzzFeed during the 4th quarter valued at about $114,000. Marshall Wace LLP acquired a new position in shares of BuzzFeed during the 4th quarter valued at about $597,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of BuzzFeed by 1,006.1% during the 4th 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. 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.

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