BuzzFeed, Inc. (NASDAQ:BZFD) Major Shareholder Enterprise Associates 13 L. New Sells 13,629 Shares of Stock

BuzzFeed, Inc. (NASDAQ:BZFD) major shareholder Enterprise Associates 13 L. New sold 13,629 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $1.95, for a total transaction of $26,576.55. Following the transaction, the insider now directly owns 3,764,465 shares in the company, valued at $7,340,706.75. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

BuzzFeed Stock Performance

Shares of BZFD opened at $1.94 on Wednesday. The company has a market capitalization of $73.72 million, a price-to-earnings ratio of -1.34 and a beta of 3.73. The company’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.82. BuzzFeed, Inc. has a 1 year low of $1.26 and a 1 year high of $5.68.

Hedge Funds Weigh In On BuzzFeed

A number of large investors have recently bought and sold shares of BZFD. Geode Capital Management LLC raised its stake in BuzzFeed by 18.7% during the third quarter. Geode Capital Management LLC now owns 187,598 shares of the company’s stock worth $500,000 after purchasing an additional 29,543 shares during the period. Virtu Financial LLC purchased a new position in BuzzFeed during the fourth quarter worth approximately $83,000. Renaissance Technologies LLC raised its stake in BuzzFeed by 359.5% during the fourth 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 during the period. XTX Topco Ltd purchased a new position in BuzzFeed during the fourth quarter worth approximately $114,000. Finally, Marshall Wace LLP purchased a new position in BuzzFeed during the fourth quarter worth approximately $597,000. Hedge funds and other institutional investors 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.