BuzzFeed, Inc. (NASDAQ:BZFD – Get Rating) major shareholder Corp Comcast sold 1,729,407 shares of BuzzFeed stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $2.25, for a total value of $3,891,165.75. Following the completion of the sale, the insider now directly owns 21,717,704 shares in the company, valued at approximately $48,864,834. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Corp Comcast also recently made the following trade(s):
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- On Monday, February 6th, Corp Comcast sold 1,685,689 shares of BuzzFeed stock. The stock was sold at an average price of $2.23, for a total value of $3,759,086.47.
- On Wednesday, February 1st, Corp Comcast sold 1,610,496 shares of BuzzFeed stock. The stock was sold at an average price of $2.38, for a total value of $3,832,980.48.
- On Monday, January 30th, Corp Comcast sold 1,977,877 shares of BuzzFeed stock. The stock was sold at an average price of $3.27, for a total value of $6,467,657.79.
BuzzFeed Price Performance
Shares of BuzzFeed stock traded up $0.06 during trading on Monday, hitting $2.20. 27,253,229 shares of the company were exchanged, compared to its average volume of 25,520,688. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. BuzzFeed, Inc. has a fifty-two week low of $0.64 and a fifty-two week high of $5.71. The stock has a market capitalization of $298.01 million, a price-to-earnings ratio of -3.33 and a beta of 3.43. The firm has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.53.
BuzzFeed (NASDAQ:BZFD – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). BuzzFeed had a negative return on equity of 13.88% and a negative net
margin of 12.30%. The company had revenue of $103.73 million for the quarter. On average, equities analysts expect that BuzzFeed, Inc. will post -0.73 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on BZFD. Cowen lowered BuzzFeed from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Monday, November 21st. Cowen lowered BuzzFeed from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $3.00 to $2.00 in a research note on Monday, November 21st.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in BuzzFeed by 251.1% in the 2nd quarter. Millennium Management LLC now owns 172,122 shares of the company's stock valued at $265,000 after acquiring an additional 123,096 shares during the last quarter. Alliancebernstein L.P. raised its holdings in BuzzFeed by 42.0% in the 3rd quarter. Alliancebernstein L.P. now owns 159,206 shares of the company's stock valued at $248,000 after acquiring an additional 47,115 shares during the last quarter. Northern Trust Corp acquired a new position in BuzzFeed in the 1st quarter valued at $225,000. State Street Corp raised its holdings in BuzzFeed by 14.7% in the 3rd quarter. State Street Corp now owns 88,423 shares of the company's stock valued at $138,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in BuzzFeed by 194.7% in the 1st quarter. Bank of America Corp DE now owns 25,993 shares of the company's stock valued at $137,000 after acquiring an additional 17,173 shares during the last quarter. 28.68% of the stock is currently owned by institutional investors and hedge funds.
About BuzzFeed
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BuzzFeed, Inc, a digital media company, provides breaking news, original reporting, entertainment, and videos across the social web to its global audience. It provides BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a newsroom for young audience; Tasty, a platform for shareable food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content; and Complex Networks that offers culture content of music, food, style, entertainment, and sports.
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