Backblaze, Inc. (NASDAQ:BLZE) CFO Sells $13,048.14 in Stock

Backblaze, Inc. (NASDAQ:BLZE - Get Free Report) CFO Marc Suidan sold 1,974 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $6.61, for a total value of $13,048.14. Following the completion of the sale, the chief financial officer now directly owns 308,204 shares in the company, valued at approximately $2,037,228.44. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Backblaze Stock Down 1.8 %

Shares of NASDAQ:BLZE traded down $0.10 during mid-day trading on Friday, hitting $5.41. 534,371 shares of the company traded hands, compared to its average volume of 355,400. The firm has a market cap of $240.20 million, a P/E ratio of -4.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Backblaze, Inc. has a 52-week low of $4.91 and a 52-week high of $12.65. The firm's 50 day simple moving average is $6.48 and its 200 day simple moving average is $6.56.

Institutional Investors Weigh In On Backblaze

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Backblaze during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC increased its holdings in Backblaze by 300.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company's stock worth $42,000 after purchasing an additional 5,293 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Backblaze during the 4th quarter worth approximately $68,000. Quantbot Technologies LP increased its holdings in Backblaze by 60.6% during the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock worth $70,000 after purchasing an additional 4,393 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Backblaze by 15.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company's stock worth $89,000 after purchasing an additional 1,992 shares during the last quarter. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

BLZE has been the topic of a number of research analyst reports. B. Riley decreased their price target on Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. 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. Finally, Lake Street Capital reduced their price objective on Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.40.

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.