Tina Cessna Sells 8,874 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 8,874 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $928,113.72. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Backblaze Stock Up 0.6 %

Shares of BLZE traded up $0.04 during midday trading on Friday, reaching $6.49. 197,896 shares of the stock were exchanged, compared to its average volume of 364,913. Backblaze, Inc. has a 52 week low of $4.91 and a 52 week high of $12.65. 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 company’s 50 day moving average is $6.77 and its two-hundred day moving average is $6.44. The company has a market capitalization of $288.16 million, a P/E ratio of -5.85 and a beta of 0.99.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. The company had revenue of $32.59 million for the quarter, compared to the consensus estimate of $32.54 million. During the same period in the previous year, the business earned ($0.43) EPS. On average, sell-side analysts anticipate that Backblaze, Inc. will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

BLZE has been the topic of a number of recent analyst reports. Craig Hallum increased their target price on Backblaze from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Raymond James increased their price target on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Oppenheimer dropped their price target on Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th.

Institutional Investors Weigh In On Backblaze

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Backblaze by 124.4% during the third quarter. Barclays PLC now owns 78,205 shares of the company’s stock valued at $500,000 after purchasing an additional 43,354 shares in the last quarter. Geode Capital Management LLC boosted its position in Backblaze by 2.6% during the third quarter. Geode Capital Management LLC now owns 864,562 shares of the company’s stock valued at $5,525,000 after purchasing an additional 21,593 shares in the last quarter. XTX Topco Ltd boosted its position in Backblaze by 108.1% during the third quarter. XTX Topco Ltd now owns 72,520 shares of the company’s stock valued at $463,000 after purchasing an additional 37,669 shares in the last quarter. Jane Street Group LLC acquired a new stake in Backblaze in the third quarter worth about $159,000. Finally, State Street Corp boosted its holdings in Backblaze by 29.7% in the third quarter. State Street Corp now owns 606,313 shares of the company’s stock worth $3,874,000 after acquiring an additional 138,917 shares in the last quarter. Institutional investors own 54.03% of the company’s stock.

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.