Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna Sells 2,715 Shares of Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 2,715 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $6.64, for a total value of $18,027.60. Following the sale, the vice president now directly owns 113,895 shares of the company’s stock, valued at $756,262.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Tina Cessna also recently made the following trade(s):

• On Tuesday, May 21st, Tina Cessna sold 2,212 shares of Backblaze stock. The stock was sold at an average price of $6.75, for a total value of $14,931.00.
• On Tuesday, March 26th, Tina Cessna sold 20,000 shares of Backblaze stock. The stock was sold at an average price of $9.95, for a total transaction of $199,000.00.
• On Monday, February 26th, Tina Cessna sold 2,129 shares of Backblaze stock. The stock was sold at an average price of $9.84, for a total value of $20,949.36.

Backblaze Stock Up 1.0 %

NASDAQ BLZE 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 capitalization of $284.28 million, a P/E ratio of -4.77 and a beta of 1.21. The business has a fifty day simple moving average of $9.18 and a 200 day simple moving average of $8.52. Backblaze, Inc. has a 12 month low of $3.50 and a 12 month high of $12.65. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Backblaze

Several hedge funds and other institutional investors have recently made changes to their positions in BLZE. Jump Financial LLC acquired a new position in shares of Backblaze during the third quarter valued at about $121,000. Barclays PLC increased its position in shares of Backblaze by 183.0% during the third quarter. Barclays PLC now owns 51,168 shares of the company’s stock valued at $281,000 after purchasing an additional 33,085 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Backblaze in the 3rd quarter valued at $2,479,000. Acadian Asset Management LLC raised its position in Backblaze by 34.5% in the third quarter. Acadian Asset Management LLC now owns 291,546 shares of the company’s stock worth $1,602,000 after purchasing an additional 74,813 shares in the last quarter. Finally, EAM Investors LLC bought a new position in Backblaze during the third quarter worth about $1,389,000. 54.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BLZE shares. Oppenheimer increased their price target on shares of Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Raymond James upped their price target on shares of Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, B. Riley upped their target price on Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 9th.

Backblaze Company Profile

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.