Raymond James Financial Inc. Makes New $1.62 Million Investment in Backblaze, Inc. (NASDAQ:BLZE)

Raymond James Financial Inc. acquired a new stake in Backblaze, Inc. (NASDAQ:BLZE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 268,793 shares of the company's stock, valued at approximately $1,618,000. Raymond James Financial Inc. owned approximately 0.61% of Backblaze as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BLZE. Los Angeles Capital Management LLC lifted its stake in Backblaze by 60.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 237,298 shares of the company's stock worth $1,429,000 after purchasing an additional 89,501 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Backblaze by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company's stock valued at $508,000 after acquiring an additional 2,105 shares during the last quarter. P.A.W. Capital Corp purchased a new stake in Backblaze during the 4th quarter valued at about $1,926,000. Tempus Wealth Planning LLC grew its position in Backblaze by 98.5% during the 4th quarter. Tempus Wealth Planning LLC now owns 48,860 shares of the company's stock worth $294,000 after acquiring an additional 24,240 shares during the last quarter. Finally, Penbrook Management LLC purchased a new position in Backblaze in the 4th quarter worth approximately $288,000. Institutional investors own 54.03% of the company's stock.

Backblaze Trading Down 4.7 %

BLZE stock traded down $0.22 on Friday, reaching $4.51. The company's stock had a trading volume of 555,919 shares, compared to its average volume of 434,141. The firm has a market cap of $244.89 million, a PE ratio of -4.06 and a beta of 0.89. The business has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $6.43. Backblaze, Inc. has a 12-month low of $4.33 and a 12-month high of $10.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BLZE shares. B. Riley dropped their price objective on Backblaze from $11.50 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Needham & Company LLC initiated coverage on shares of Backblaze in a report on Tuesday, March 11th. They issued a "buy" rating and a $8.00 price target on the stock. Finally, Lake Street Capital decreased their price objective on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus 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.