BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder Sells $10,134,384.37 in Stock

BuzzFeed, Inc. (NASDAQ:BZFD) major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

BuzzFeed Stock Up 6.1 %

Shares of BuzzFeed stock opened at $2.80 on Friday. BuzzFeed, Inc. has a 12-month low of $0.64 and a 12-month high of $4.56. The business’s 50 day moving average is $1.80 and its 200-day moving average is $1.35. The stock has a market cap of $102.51 million, a P/E ratio of -1.14 and a beta of 3.10.

BuzzFeed (NASDAQ:BZFD) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.72) earnings per share for the quarter. BuzzFeed had a negative net margin of 32.51% and a negative return on equity of 58.08%. The business had revenue of $44.76 million during the quarter.

Institutional Investors Weigh In On BuzzFeed

A hedge fund recently bought a new stake in BuzzFeed stock. Monaco Asset Management SAM purchased a new stake in BuzzFeed, Inc. (NASDAQ:BZFD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 500,000 shares of the company’s stock, valued at approximately $125,000. Monaco Asset Management SAM owned 0.35% of BuzzFeed at the end of the most recent quarter. 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.