First Eagle Investment Management LLC Has $6.99 Million Stock Holdings in Backblaze, Inc. (NASDAQ:BLZE)

First Eagle Investment Management LLC grew its position in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,160,390 shares of the company's stock after purchasing an additional 49,800 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.61% of Backblaze worth $6,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BLZE. R Squared Ltd acquired a new stake in shares of Backblaze in the fourth quarter worth $38,000. Verition Fund Management LLC grew its stake in shares of Backblaze by 15.4% in the third quarter. Verition Fund Management LLC now owns 15,800 shares of the company's stock worth $101,000 after acquiring an additional 2,106 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Backblaze by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company's stock worth $120,000 after acquiring an additional 6,322 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Backblaze by 129.1% during the third quarter. MetLife Investment Management LLC now owns 24,275 shares of the company's stock worth $155,000 after buying an additional 13,678 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Backblaze during the third quarter worth $159,000. Institutional investors and hedge funds own 54.03% of the company's stock.

Backblaze Price Performance

Shares of NASDAQ:BLZE traded down $0.10 on Thursday, hitting $5.42. The stock had a trading volume of 244,472 shares, compared to its average volume of 355,426. Backblaze, Inc. has a twelve month low of $4.91 and a twelve month high of $10.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm's 50 day moving average price is $6.30 and its 200-day moving average price is $6.49. The company has a market capitalization of $240.65 million, a price-to-earnings ratio of -4.88 and a beta of 0.89.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLZE. B. Riley decreased their price target on shares of 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 began coverage on shares of Backblaze in a research note on Tuesday, March 11th. They set a "buy" rating and a $8.00 price target on the stock. Finally, Lake Street Capital decreased their price target on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average 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.