BuzzFeed Inc. sees $798,005 stock sale by major shareholders

BuzzFeed Inc. (NASDAQ:BZFD), currently trading at $2.20 with a market capitalization of $74.48 million, experienced a notable transaction as major shareholders sold a significant amount of stock. According to InvestingPro data, the stock has shown a significant 7.84% return over the past week, despite broader market challenges. According to a recent filing, a total of 362,966 shares of BuzzFeed’s Class A Common Stock were sold over three consecutive days, from March 12 to March 14, 2025. The sales were executed at prices ranging from $1.9756 to $2.2631 per share, resulting in a total transaction value of $798,005. The company currently operates with a significant debt burden of $62.74 million, as revealed in InvestingPro’s detailed financial analysis.

The shares were sold by entities associated with New Enterprise Associates 13, L.P., including NEA Partners 13, Limited Partnership and NEA 13 GP, Ltd. These entities are known to be significant shareholders of BuzzFeed, and the sales have reduced their holdings to 3,401,499 shares following the transactions.

The weighted average prices for the transactions on each day were as follows: 28,272 shares on March 12 at approximately $1.9756 per share, 61,448 shares on March 13 at around $2.0142 per share, and 273,246 shares on March 14 at about $2.2631 per share. The sales were conducted in multiple transactions within the specified price ranges.

These transactions are part of routine portfolio management and do not necessarily indicate any change in the entities’ overall investment strategy regarding BuzzFeed. The reporting entities have stated that they are willing to provide further details about the specific prices of the individual transactions upon request.

In other recent news, BuzzFeed Inc. has reported its financial results for 2024, highlighting a significant decline in total revenue, which fell by $40.6 million. The company experienced a 17% decrease in advertising revenue and a 49% drop in content revenue. However, BuzzFeed saw a 23% increase in commerce revenue, which helped offset some of the losses. Despite these challenges, the company achieved a 146.8% growth in adjusted EBITDA, indicating successful cost-cutting and strategic shifts. BuzzFeed is investing $10 million in AI initiatives, aiming to launch a new platform named BF Island. The company has also reduced its debt significantly through strategic asset sales, including the divestiture of Complex and First We Feast. Looking ahead to 2025, BuzzFeed projects revenue growth between 3% and 10%, with plans to continue focusing on AI and technology-driven platforms.

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