BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder Patrick J. Kerins Sells 61,448 Shares

BuzzFeed, Inc. (NASDAQ:BZFD) major shareholder Patrick J. Kerins sold 61,448 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were 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 of the company’s stock, 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 can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

BuzzFeed Stock Performance

BZFD stock opened at $2.20 on Friday. BuzzFeed, Inc. has a one year low of $1.26 and a one year high of $5.68. The company’s fifty day moving average price is $2.42 and its 200-day moving average price is $2.80. The company has a market capitalization of $83.60 million, a PE ratio of -1.52 and a beta of 3.73.

BuzzFeed (NASDAQ:BZFD) last released 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%.

Hedge Funds Weigh In On BuzzFeed

Several hedge funds have recently modified their holdings of BZFD. Renaissance Technologies LLC boosted its position in BuzzFeed by 359.5% in the 4th quarter. Renaissance Technologies LLC now owns 792,318 shares of the company’s stock worth $2,115,000 after purchasing an additional 619,892 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in BuzzFeed by 1,461.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 251,973 shares of the company’s stock valued at $673,000 after purchasing an additional 235,831 shares during the last quarter. Marshall Wace LLP acquired a new position in BuzzFeed in the 4th quarter valued at $597,000. Dimensional Fund Advisors LP increased its stake in shares of BuzzFeed by 1,006.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 210,909 shares of the company’s stock worth $563,000 after acquiring an additional 191,841 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of BuzzFeed by 18.7% in the 3rd quarter. Geode Capital Management LLC now owns 187,598 shares of the company’s stock worth $500,000 after acquiring an additional 29,543 shares during the last quarter. 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.