Trexquant Investment LP grew its position in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 80.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,391 shares of the company's stock after buying an additional 64,834 shares during the quarter. Trexquant Investment LP owned 0.33% of Backblaze worth $875,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Backblaze by 241.8% in the 3rd 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 in the last quarter. State Street Corp increased its stake in Backblaze by 29.7% during the 3rd quarter. State Street Corp now owns 606,313 shares of the company's stock worth $3,874,000 after buying an additional 138,917 shares during the period. Geode Capital Management LLC lifted its holdings in Backblaze by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 864,562 shares of the company's stock worth $5,525,000 after buying an additional 21,593 shares in the last quarter. Barclays PLC boosted its position in Backblaze by 124.4% in 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 during the period. Finally, Blair William & Co. IL acquired a new position in shares of Backblaze in the fourth quarter worth $185,000. Hedge funds and other institutional investors own 54.03% of the company's stock.
Backblaze Stock Down 0.5 %
BLZE stock traded down $0.03 during trading on Thursday, hitting $4.67. 75,249 shares of the company's stock were exchanged, compared to its average volume of 376,121. The stock has a market capitalization of $253.31 million, a price-to-earnings ratio of -4.22 and a beta of 1.02. Backblaze, Inc. has a 52-week low of $4.07 and a 52-week high of $10.00. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $5.69 and a two-hundred day moving average price of $6.30.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on BLZE shares. Needham & Company LLC began coverage on Backblaze in a report on Tuesday, March 11th. They issued a "buy" rating and a $8.00 target price for the company. Lake Street Capital reduced their target price 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. Finally, B. Riley lowered 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $10.83.
View Our Latest Stock Report on Backblaze
Backblaze Profile
(
Free Report)
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.
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