Sydnie Karras Purchases 17,000 Shares of BuzzFeed (NASDAQ:BZFD) Stock

BuzzFeed, Inc. (NASDAQ:BZFD) Director Sydnie Karras bought 17,000 shares of BuzzFeed stock in a transaction dated Wednesday, June 17th. The shares were bought at an average cost of $1.44 per share, for a total transaction of $24,480.00. Following the completion of the transaction, the director owned 17,000 shares of the company’s stock, valued at approximately $24,480. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

BuzzFeed Stock Up 7.7%

Shares of NASDAQ BZFD opened at $1.53 on Wednesday. BuzzFeed, Inc. has a 52-week low of $0.54 and a 52-week high of $2.68. The firm has a market capitalization of $57.59 million, a price-to-earnings ratio of -0.96 and a beta of 3.75. The stock has a 50 day moving average price of $1.23 and a 200 day moving average price of $0.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.78 and a current ratio of 0.78.

BuzzFeed (NASDAQ:BZFD) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.13). The firm had revenue of $31.57 million for the quarter, compared to analysts’ expectations of $35.08 million. BuzzFeed had a negative return on equity of 97.22% and a negative net margin of 33.26%.

Analyst Ratings Changes

Several research firms recently weighed in on BZFD. Wall Street Zen downgraded BuzzFeed to a “strong sell” rating in a report on Saturday, May 30th. Weiss Ratings raised shares of BuzzFeed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $1.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of BuzzFeed by 1,615.5% during the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock worth $38,000 after acquiring an additional 13,312 shares in the last quarter. Geode Capital Management LLC boosted its stake in BuzzFeed by 35.8% in the second quarter. Geode Capital Management LLC now owns 253,768 shares of the company’s stock valued at $508,000 after acquiring an additional 66,895 shares in the last quarter. XTX Topco Ltd purchased a new position in BuzzFeed in the second quarter worth $37,000. Raymond James Financial Inc. purchased a new position in BuzzFeed in the second quarter worth $33,000. Finally, Vanguard Group Inc. increased its position in shares of BuzzFeed by 8.8% during the third quarter. Vanguard Group Inc. now owns 976,888 shares of the company’s stock worth $1,661,000 after purchasing an additional 79,263 shares in the last quarter. Hedge funds and other institutional investors own 37.64% of the company’s stock.

About BuzzFeed

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.