Backblaze, Inc. (NASDAQ:BLZE) Major Shareholder Sells 10,460.00 in Stock

Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Charles J. Jones sold 2,000 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of 5.23, for a total value of 10,460.00. Following the transaction, the insider now owns 456,000 shares in the company, valued at 2,384,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Backblaze Price Performance

Backblaze stock opened at 5.62 on Monday. The stock’s 50-day moving average is 5.44 and its 200-day moving average is 8.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05. Backblaze, Inc. has a 12 month low of 4.81 and a 12 month high of 36.50.

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

Institutional Investors Weigh In On Backblaze

Several hedge funds have recently modified their holdings of BLZE. Steward Partners Investment Advisory LLC purchased a new stake in shares of Backblaze during the 4th quarter valued at about $29,000. Royal Bank of Canada raised its holdings in shares of Backblaze by 275.9% during the 1st quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock valued at $30,000 after buying an additional 2,069 shares during the period. ETF Managers Group LLC purchased a new stake in shares of Backblaze during the 4th quarter valued at about $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of Backblaze during the 1st quarter valued at about $117,000. Finally, Blair William & Co. IL purchased a new stake in shares of Backblaze during the 1st quarter valued at about $140,000. 12.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLZE. Lake Street Capital reduced their target price on Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. B. Riley cut their price objective on Backblaze from $23.00 to $16.50 in a report on Friday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of 20.38.

Backblaze Company Profile

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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.

See Also

Insider Buying and Selling by Quarter for Backblaze (NASDAQ:BLZE)

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