Cerity Partners LLC Acquires Shares of 100,083 Backblaze, Inc. (NASDAQ:BLZE)

Cerity Partners LLC bought a new stake in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 100,083 shares of the company's stock, valued at approximately $640,000. Cerity Partners LLC owned 0.23% of Backblaze at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. ClariVest Asset Management LLC boosted its position in shares of Backblaze by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 75,554 shares of the company's stock worth $465,000 after acquiring an additional 2,154 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Backblaze by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company's stock worth $755,000 after acquiring an additional 5,098 shares during the period. SG Americas Securities LLC boosted its holdings in Backblaze by 84.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company's stock valued at $131,000 after purchasing an additional 9,720 shares in the last quarter. Scalar Gauge Management LLC lifted its stake in shares of Backblaze by 6.4% in the second quarter. Scalar Gauge Management LLC now owns 250,887 shares of the company's stock valued at $1,545,000 after purchasing an additional 15,000 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Backblaze during the 2nd quarter valued at approximately $102,000. 54.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BLZE. Craig Hallum increased their price objective on shares of Backblaze from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Oppenheimer cut their price target on shares of Backblaze from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Finally, Raymond James lifted their price objective on Backblaze from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, November 8th.

Insider Buying and Selling

In other Backblaze news, VP Tina Cessna sold 8,874 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total transaction of $56,971.08. Following the completion of the sale, the vice president now directly owns 144,566 shares in the company, valued at approximately $928,113.72. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gleb Budman sold 10,321 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total transaction of $66,260.82. Following the completion of the transaction, the chief executive officer now owns 1,864,646 shares in the company, valued at approximately $11,971,027.32. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company's stock.

Backblaze Stock Performance

BLZE stock traded up $0.16 during mid-day trading on Friday, reaching $6.88. The company had a trading volume of 496,207 shares, compared to its average volume of 631,822. The stock has a market capitalization of $305.47 million, a P/E ratio of -6.20 and a beta of 0.91. The stock's 50-day simple moving average is $6.84 and its two-hundred day simple moving average is $6.41. Backblaze, Inc. has a one year low of $4.91 and a one year high of $12.65. 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 (NASDAQ:BLZE - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The business had revenue of $32.59 million during the quarter, compared to the consensus estimate of $32.54 million. Backblaze had a negative return on equity of 100.67% and a negative net margin of 37.13%. During the same period in the previous year, the company posted ($0.43) EPS. Research analysts anticipate that Backblaze, Inc. will post -1.02 EPS for the current year.

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.