Whetstone Capital Advisors LLC Reduces Stock Position in Backblaze, Inc. (NASDAQ:BLZE)

Whetstone Capital Advisors LLC trimmed its position in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,220,102 shares of the company's stock after selling 366,907 shares during the period. Backblaze comprises about 2.4% of Whetstone Capital Advisors LLC's portfolio, making the stock its 15th largest holding. Whetstone Capital Advisors LLC owned approximately 2.75% of Backblaze worth $7,345,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BLZE. R Squared Ltd acquired a new stake in shares of Backblaze in the fourth quarter worth approximately $38,000. Quantbot Technologies LP lifted its holdings in Backblaze by 60.6% in the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock valued at $70,000 after purchasing an additional 4,393 shares in the last quarter. Verition Fund Management LLC boosted its stake in Backblaze by 15.4% during the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company's stock worth $101,000 after purchasing an additional 2,106 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Backblaze in the fourth quarter worth about $114,000. Finally, Virtu Financial LLC acquired a new position in shares of Backblaze during the 4th quarter worth approximately $117,000. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Backblaze Stock Down 0.2 %

Backblaze stock traded down $0.01 during mid-day trading on Wednesday, reaching $4.64. 170,927 shares of the company's stock were exchanged, compared to its average volume of 375,764. The company has a market cap of $251.95 million, a P/E ratio of -4.18 and a beta of 1.02. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. Backblaze, Inc. has a twelve month low of $4.07 and a twelve month high of $10.00. The company has a fifty day moving average of $5.74 and a 200-day moving average of $6.31.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BLZE shares. B. Riley reduced their price target on Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Lake Street Capital lowered their price target on Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC began coverage on shares of Backblaze in a research note on Tuesday, March 11th. They set a "buy" rating and a $8.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Backblaze presently has an average rating of "Buy" and an average target price of $10.83.

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.