BuzzFeed sees $96,221 in stock sales by major shareholder

BuzzFeed, Inc. (NASDAQ:BZFD), a digital media company with a market capitalization of $74.48 million, recently saw significant stock sales by a major shareholder, New Enterprise Associates 13 LP. According to a recent SEC filing, the firm disposed of shares totaling $96,221. The transactions occurred over two separate days, with shares sold at prices ranging from $1.94 to $2.078 per share. InvestingPro data shows the company faces significant financial challenges, with negative EBITDA and concerning cash burn rates.

On March 7, 2025, the firm sold 33,848 shares at an average price of $2.0563. This was followed by another sale on March 11, 2025, of 13,629 shares at an average price of $1.9532. Post-transaction, New Enterprise Associates 13 LP holds approximately 3,764,465 shares of BuzzFeed. The stock has shown significant volatility, with a year-to-date decline of 27.34% and a beta of 3.75, indicating higher market sensitivity than average.

These transactions were executed by New Enterprise Associates 13 LP, a ten percent owner of the company, as part of routine portfolio management. The sales were conducted in multiple transactions within the specified price ranges. Get deeper insights into BZFD’s financial health and 11 additional key ProTips with an InvestingPro subscription, including exclusive access to comprehensive Pro Research Reports covering what really matters for smarter investment decisions.

In other recent news, BuzzFeed, Inc. has finalized the sale of its culinary brand, First We Feast, to a group led by Soros Fund Management LLC for $82.5 million in cash. This transaction has allowed BuzzFeed to surpass its remaining debt with its current cash balance. The company has provided guidance for its fourth-quarter earnings, projecting revenues between $54 million and $58 million, and an Adjusted EBITDA of $4 million to $9 million. BuzzFeed has also announced a workforce reduction of about 5% at HuffPost, aiming for annual pre-tax savings of approximately $4.0 million starting from the second quarter of 2025. The company expects restructuring charges between $1.8 million and $2.0 million, primarily in the first quarter of 2025.

Additionally, BuzzFeed has extended the deadline for Option Repurchase Notices to March 31, 2025, by paying a $0.9 million fee to Wilmington Savings Fund Society, FSB. The company has also approved cash and equity bonuses for top executives, including CEO Jonah Peretti, as part of its strategy to incentivize leadership. The bonuses will be distributed in four equal installments during the final pay periods of March, April, May, and June 2025. These developments reflect BuzzFeed’s ongoing efforts to optimize its operations and financial strategies.

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