NEA Management Company LLC Sells 11,500,419 Shares of BuzzFeed, Inc. (NASDAQ:BZFD)

NEA Management Company LLC decreased its holdings in BuzzFeed, Inc. (NASDAQ:BZFD - Free Report) by 75.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,833,473 shares of the company's stock after selling 11,500,419 shares during the period. BuzzFeed makes up about 0.8% of NEA Management Company LLC's holdings, making the stock its 25th biggest holding. NEA Management Company LLC owned approximately 10.47% of BuzzFeed worth $10,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baader Bank Aktiengesellschaft bought a new stake in shares of BuzzFeed in the 2nd quarter valued at about $475,000. Seven Post Investment Office LP bought a new stake in BuzzFeed in the second quarter valued at approximately $1,881,000. Dimensional Fund Advisors LP purchased a new stake in shares of BuzzFeed during the second quarter valued at approximately $53,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of BuzzFeed during the second quarter valued at approximately $37,000. Institutional investors own 37.64% of the company's stock.

BuzzFeed Stock Performance

Shares of NASDAQ BZFD traded up $0.01 during mid-day trading on Wednesday, hitting $2.76. The stock had a trading volume of 135,053 shares, compared to its average volume of 1,241,817. The business has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $2.30. BuzzFeed, Inc. has a 1 year low of $0.64 and a 1 year high of $4.56. The firm has a market cap of $101.04 million, a P/E ratio of -1.12 and a beta of 3.35.

BuzzFeed (NASDAQ:BZFD - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $46.93 million for the quarter. BuzzFeed had a negative net margin of 28.24% and a negative return on equity of 45.51%.

BuzzFeed Company Profile

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.