Backblaze, Inc. (NASDAQ:BLZE) Major Shareholder Charles J. Jones Sells 2,000 Shares of Stock

Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Charles J. Jones sold 2,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of 5.17, for a total transaction of 10,340.00. Following the transaction, the insider now owns 516,000 shares in the company, valued at approximately 2,667,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of BLZE stock traded down 0.24 during trading hours on Thursday, reaching 5.05. 340 shares of the company were exchanged, compared to its average volume of 132,121. Backblaze, Inc. has a fifty-two week low of 5.02 and a fifty-two week high of 36.50. The stock’s fifty day moving average is 7.73 and its two-hundred day moving average is 12.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05.

Backblaze (NASDAQ:BLZEGet Rating) last announced its earnings results on Thursday, May 5th. The company reported -0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of -0.37 by -0.04. The firm had revenue of 19.49 million for the quarter, compared to the consensus estimate of 19.31 million. Sell-side analysts forecast that Backblaze, Inc. will post -1.62 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP bought a new stake in shares of Backblaze during the fourth quarter worth approximately $3,374,000. Susquehanna International Group LLP bought a new stake in shares of Backblaze during the fourth quarter worth approximately $263,000. State Street Corp bought a new stake in shares of Backblaze during the first quarter worth approximately $261,000. Northern Trust Corp bought a new stake in shares of Backblaze during the fourth quarter worth approximately $226,000. Finally, Blair William & Co. IL bought a new stake in shares of Backblaze during the first quarter worth approximately $140,000. 12.85% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on BLZE. Raymond James decreased their target price on shares of Backblaze from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. B. Riley reduced their price target on shares of Backblaze from $23.00 to $16.50 in a research report on Friday, May 6th. Finally, Lake Street Capital reduced their price target on shares of Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of 20.38.

Backblaze Company Profile (Get Rating)

Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.

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