Backblaze (NASDAQ:BLZE – Free Report) had its price target raised by B. Riley from $9.00 to $11.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.
Separately, Raymond James cut their price objective on shares of Backblaze from $12.50 to $12.00 and set an outperform rating for the company in a research report on Thursday, November 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $11.30.
Backblaze Trading Down 3.2 %
In other news, VP Tina Cessna sold 20,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $7.39, for a total transaction of $147,800.00. Following the transaction, the vice president now directly owns 131,935 shares in the company, valued at $974,999.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 87,477 shares of company stock worth $626,113. Corporate insiders own 27.14% of the company’s stock.
Institutional Trading of Backblaze
A number of institutional investors and hedge funds have recently modified their holdings of BLZE. BlackRock Inc. boosted its holdings in Backblaze by 7.9% in the 1st quarter. BlackRock Inc. now owns 116,228 shares of the company’s stock valued at $1,239,000 after purchasing an additional 8,536 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Backblaze in the 1st quarter worth approximately $140,000. Vanguard Group Inc. lifted its holdings in shares of Backblaze by 269.7% in the 1st quarter. Vanguard Group Inc. now owns 412,992 shares of the company’s stock worth $4,407,000 after acquiring an additional 301,271 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Backblaze in the 1st quarter worth approximately $620,000. Finally, State Street Corp acquired a new position in shares of Backblaze in the 1st quarter worth approximately $261,000. Hedge funds and other institutional investors own 15.23% 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.
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