Thompson Siegel & Walmsley LLC Takes $2.96 Million Position in Backblaze, Inc. (NASDAQ:BLZE)

Thompson Siegel & Walmsley LLC purchased a new stake in Backblaze, Inc. (NASDAQ:BLZE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 491,000 shares of the company's stock, valued at approximately $2,956,000. Thompson Siegel & Walmsley LLC owned 1.11% of Backblaze as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Backblaze by 241.8% during the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company's stock valued at $801,000 after acquiring an additional 88,652 shares during the last quarter. State Street Corp lifted its holdings in shares of Backblaze by 29.7% during the 3rd quarter. State Street Corp now owns 606,313 shares of the company's stock valued at $3,874,000 after purchasing an additional 138,917 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Backblaze by 2.6% in the 3rd 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 in the last quarter. Los Angeles Capital Management LLC purchased a new position in Backblaze during the 3rd quarter worth $944,000. Finally, Barclays PLC increased its position in Backblaze by 124.4% during the 3rd quarter. Barclays PLC now owns 78,205 shares of the company's stock valued at $500,000 after buying an additional 43,354 shares in the last quarter. Institutional investors own 54.03% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BLZE shares. Lake Street Capital cut 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 decreased their price target on shares of Backblaze from $11.50 to $11.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, Needham & Company LLC initiated coverage on shares of Backblaze in a research note on Tuesday, March 11th. They set a "buy" rating and a $8.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.83.

Backblaze Stock Performance

Backblaze stock traded down $0.10 during mid-day trading on Tuesday, hitting $5.40. The company had a trading volume of 374,413 shares, compared to its average volume of 355,660. The company has a market capitalization of $239.76 million, a price-to-earnings ratio of -4.86 and a beta of 0.89. Backblaze, Inc. has a 12-month low of $4.91 and a 12-month high of $10.84. The company's fifty day moving average is $6.34 and its 200-day moving average is $6.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

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.