Backblaze, Inc. (NASDAQ:BLZE) CFO Marc Suidan Sells 1,974 Shares of Stock

Backblaze, Inc. (NASDAQ:BLZE) CFO Marc Suidan sold 1,974 shares of Backblaze stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $6.61, for a total transaction of $13,048.14. Following the completion of the transaction, the chief financial officer now directly owns 308,204 shares of the company’s stock, valued at approximately $2,037,228.44. This trade represents a 0.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Backblaze Stock Performance

Shares of BLZE stock opened at $6.01 on Tuesday. The company has a market capitalization of $266.84 million, a price-to-earnings ratio of -5.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The company has a 50-day simple moving average of $6.52 and a 200 day simple moving average of $6.58. Backblaze, Inc. has a 52 week low of $4.91 and a 52 week high of $12.65.

Institutional Trading of Backblaze

Several hedge funds and other institutional investors have recently modified their holdings of BLZE. R Squared Ltd bought a new stake in shares of Backblaze during the 4th quarter worth about $38,000. Tower Research Capital LLC TRC boosted its holdings in shares of Backblaze by 300.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock worth $42,000 after buying an additional 5,293 shares during the period. ProShare Advisors LLC bought a new stake in shares of Backblaze during the 4th quarter worth about $68,000. Quantbot Technologies LP boosted its holdings in shares of Backblaze by 60.6% during the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock worth $70,000 after buying an additional 4,393 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Backblaze by 15.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock worth $89,000 after buying an additional 1,992 shares during the period. Institutional investors own 54.03% of the company’s stock.

Wall Street Analyst Weigh In

BLZE has been the subject of a number of analyst reports. Lake Street Capital decreased their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. B. Riley decreased their price objective on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Raymond James lifted their price objective on shares of Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.40.

About Backblaze

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.