320,000 Shares in Backblaze, Inc. (NASDAQ:BLZE) Purchased by P.A.W. Capital Corp

P.A.W. Capital Corp purchased a new position in Backblaze, Inc. (NASDAQ:BLZE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 320,000 shares of the company's stock, valued at approximately $1,926,000. Backblaze makes up 3.7% of P.A.W. Capital Corp's portfolio, making the stock its 10th largest position. P.A.W. Capital Corp owned approximately 0.72% of Backblaze as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Backblaze in the fourth quarter worth about $38,000. Verition Fund Management LLC boosted its position in Backblaze by 15.4% in the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company's stock valued at $101,000 after buying an additional 2,106 shares during the period. SG Americas Securities LLC grew its stake in Backblaze by 46.7% in the 4th 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 in the last quarter. MetLife Investment Management LLC increased its position in shares of 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 acquiring an additional 13,678 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Backblaze in the third quarter valued at approximately $159,000. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Backblaze Stock Performance

NASDAQ BLZE traded up $0.03 on Monday, reaching $7.24. 1,163,273 shares of the company's stock traded hands, compared to its average volume of 333,446. The stock has a 50 day moving average price of $6.51 and a 200-day moving average price of $6.56. The firm has a market cap of $321.46 million, a price-to-earnings ratio of -6.52 and a beta of 0.92. 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 fifty-two week low of $4.91 and a fifty-two week high of $12.65.

Analyst Ratings Changes

BLZE has been the topic of several research reports. Raymond James raised their price objective on Backblaze from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. B. Riley dropped their price target on Backblaze from $11.50 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th.

Insider Transactions at Backblaze

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

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.