JPMorgan Chase & Co. Purchases 143,754 Shares of Backblaze, Inc. (NASDAQ:BLZE)

JPMorgan Chase & Co. boosted its stake in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 114.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 269,074 shares of the company's stock after buying an additional 143,754 shares during the period. JPMorgan Chase & Co. owned approximately 0.61% of Backblaze worth $1,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Backblaze during the 4th quarter valued at $38,000. Quantbot Technologies LP raised its holdings in Backblaze by 60.6% during the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock valued at $70,000 after buying an additional 4,393 shares during the period. Intech Investment Management LLC purchased a new stake in Backblaze during the 4th quarter valued at $114,000. Virtu Financial LLC purchased a new stake in Backblaze during the 4th quarter valued at $117,000. Finally, SG Americas Securities LLC raised its holdings in Backblaze by 46.7% during the 4th quarter. SG Americas Securities LLC now owns 19,853 shares of the company's stock valued at $120,000 after buying an additional 6,322 shares during the period. Hedge funds and other institutional investors own 54.03% of the company's stock.

Backblaze Stock Down 1.1 %

Shares of BLZE traded down $0.05 during midday trading on Monday, reaching $4.46. 265,669 shares of the stock were exchanged, compared to its average volume of 391,205. Backblaze, Inc. has a 52 week low of $3.94 and a 52 week high of $10.00. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The company's 50 day moving average is $5.24 and its two-hundred day moving average is $6.19. The company has a market capitalization of $242.18 million, a P/E ratio of -4.02 and a beta of 1.02.

Wall Street Analysts Forecast Growth

BLZE has been the topic of a number of recent analyst reports. B. Riley reduced their target price on Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC initiated coverage on Backblaze in a research note on Tuesday, March 11th. They issued a "buy" rating and a $8.00 target price on the stock. Finally, Lake Street Capital reduced their target price on Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $10.83.

Backblaze 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.