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BuzzFeed Inc. (NASDAQ:BZFD), a digital media company with a market capitalization of $76.57 million and currently trading at $2.01, recently disclosed stock sales totaling $44,615, according to a series of filings with the Securities and Exchange Commission. The transactions occurred over three days, from March 4 to March 6, 2025, involving Class A Common Stock. InvestingPro data shows the company operates with a significant debt burden of $146.09 million and maintains a weak financial health score.
On March 4, 1,438 shares were sold at a weighted average price of $2.071 per share. The shares were sold in multiple transactions, with prices ranging from $2.03 to $2.09 per share. Following this, on March 5, an additional 8,966 shares were sold at an average price of $2.0372, with transactions occurring between $2.02 and $2.05 per share. The stock’s high volatility, reflected in its beta of 3.75, has contributed to significant price movements.
The final transaction on March 6 saw 11,127 shares sold at an average price of $2.1005, with prices ranging from $2.02 to $2.14 per share. After these sales, the reporting owner, New Enterprise Associates 13, L.P., along with its affiliated entities, holds 3,811,942 shares of BuzzFeed’s Class A Common Stock.
These transactions are part of routine trading activities and reflect the ongoing management of the investment portfolio by the reporting entities.
In other recent news, BuzzFeed, Inc. has announced the sale of its culinary brand, First We Feast, to Soros Fund Management LLC for $82.5 million in cash. This transaction is part of BuzzFeed’s broader strategy to focus on higher-margin, tech-driven revenue streams. As a result, First We Feast will be classified as a discontinued operation in the company’s financial reporting. BuzzFeed has also provided guidance for its fourth-quarter earnings, projecting revenues between $54 million and $58 million, with an Adjusted EBITDA of $4 million to $9 million.
Additionally, BuzzFeed has implemented a workforce reduction plan, targeting a 5% cut in its current workforce to streamline operations at HuffPost. The company expects to incur restructuring charges between $1.8 million and $2.0 million, with anticipated annual pre-tax savings of approximately $4.0 million. In other developments, BuzzFeed has extended the option repurchase date to March 31, 2025, by paying $0.9 million to Wilmington Savings Fund Society, FSB.
Furthermore, BuzzFeed has approved cash and equity bonuses for top executives, including CEO Jonah Peretti, as part of its executive compensation strategy. The company is set to release its fourth-quarter and full-year 2024 financial results on March 13, 2025. These recent developments reflect BuzzFeed’s ongoing efforts to align its business strategy with market conditions and operational efficiency.
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