Backblaze, Inc. (NASDAQ:BLZE) CFO Francis P. Patchel Sells 2,647 Shares of Stock

Backblaze, Inc. (NASDAQ:BLZE) CFO Francis P. Patchel sold 2,647 shares of Backblaze stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $6.64, for a total value of $17,576.08. Following the completion of the transaction, the chief financial officer now owns 172,981 shares in the company, valued at approximately $1,148,593.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Backblaze Stock Performance

BLZE stock traded up $0.07 during trading on Friday, hitting $6.85. 63,252 shares of the company traded hands, compared to its average volume of 369,050. The company has a market cap of $284.28 million, a PE ratio of -4.77 and a beta of 1.21. Backblaze, Inc. has a 1 year low of $3.50 and a 1 year high of $12.65. The stock’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $8.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.70 and a quick ratio of 0.70.

Institutional Trading of Backblaze

Large investors have recently made changes to their positions in the company. Cutler Group LLC CA lifted its stake in shares of Backblaze by 553.0% in the 4th quarter. Cutler Group LLC CA now owns 3,918 shares of the company’s stock valued at $29,000 after purchasing an additional 3,318 shares during the last quarter. AJOVista LLC acquired a new stake in Backblaze in the 4th quarter valued at about $67,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Backblaze during the 4th quarter worth about $76,000. Tower Research Capital LLC TRC acquired a new stake in shares of Backblaze during the 4th quarter worth about $86,000. Finally, Jump Financial LLC acquired a new stake in shares of Backblaze during the 3rd quarter worth about $121,000. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. B. Riley raised their price target on Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Oppenheimer lifted their target price on Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Raymond James lifted their target price on Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, February 16th.

About Backblaze

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.