Backblaze, Inc. (NASDAQ:BLZE) VP Sells $24,859.24 in Stock

Backblaze, Inc. (NASDAQ:BLZE - Get Free Report) VP Tina Cessna sold 3,778 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $6.58, for a total transaction of $24,859.24. Following the transaction, the vice president now directly owns 138,062 shares in the company, valued at approximately $908,447.96. The trade was a 2.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Tina Cessna also recently made the following trade(s):

• On Thursday, February 27th, Tina Cessna sold 584 shares of Backblaze stock. The shares were sold at an average price of $6.61, for a total transaction of $3,860.24.

Backblaze Trading Down 1.8 %

NASDAQ:BLZE traded down $0.10 on Friday, reaching $5.41. 534,371 shares of the company's stock were exchanged, compared to its average volume of 355,400. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $240.20 million, a price-to-earnings ratio of -4.87 and a beta of 0.89. The business has a fifty day moving average of $6.48 and a 200-day moving average of $6.56. Backblaze, Inc. has a 52-week low of $4.91 and a 52-week high of $12.65.

Institutional Trading of Backblaze

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Backblaze by 241.8% during the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company's stock worth $801,000 after purchasing an additional 88,652 shares during the period. State Street Corp increased its stake in Backblaze by 29.7% during the third quarter. State Street Corp now owns 606,313 shares of the company's stock worth $3,874,000 after purchasing an additional 138,917 shares during the period. Geode Capital Management LLC increased its stake in Backblaze by 2.6% during the third quarter. Geode Capital Management LLC now owns 864,562 shares of the company's stock worth $5,525,000 after purchasing an additional 21,593 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Backblaze during the third quarter worth approximately $944,000. Finally, Barclays PLC increased its stake in shares of Backblaze by 124.4% during the third quarter. Barclays PLC now owns 78,205 shares of the company's stock worth $500,000 after buying an additional 43,354 shares during the period. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages recently issued reports on BLZE. Lake Street Capital reduced their price objective on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. B. Riley reduced their price objective on shares of Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Finally, Raymond James boosted their price objective on shares of Backblaze from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $11.40.

Backblaze Company 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.