Backblaze, Inc. (NASDAQ:BLZE – Get Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the company's stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $7.13, for a total value of $14,260.00. Following the transaction, the insider now directly owns 214,000 shares in the company, valued at approximately $1,525,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kwok Hang Ng also recently made the following trade(s):

• On Monday, January 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $7.71, for a total value of $15,420.00.
• On Tuesday, January 17th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.57, for a total value of $15,140.00.
• On Friday, January 13th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.75, for a total value of $15,500.00.
• On Monday, January 9th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.39, for a total value of $14,780.00.
• On Thursday, January 5th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.88, for a total value of $13,760.00.
• On Tuesday, January 3rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.14, for a total value of $12,280.00.
• On Thursday, December 29th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $5.62, for a total value of $11,240.00.
• On Tuesday, December 27th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $5.43, for a total value of $10,860.00.
• On Friday, December 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $5.57, for a total value of $11,140.00.
• On Monday, December 12th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $4.82, for a total value of $9,640.00.

Backblaze Stock Performance

NASDAQ BLZE opened at $7.10 on Thursday. The business's 50-day moving average price is $5.70 and its 200 day moving average price is $5.63. Backblaze, Inc. has a twelve month low of $3.82 and a twelve month high of $15.89. The company has a market capitalization of $231.46 million, a PE ratio of -4.55 and a beta of 0.21. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.27.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. B. Riley reduced their price objective on Backblaze from $11.00 to $8.50 in a research report on Thursday, November 10th. Oppenheimer reduced their price objective on Backblaze to $8.50 in a research report on Tuesday, November 15th. Finally, Raymond James reduced their target price on Backblaze from $14.50 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, November 10th.

Hedge Funds Weigh In On Backblaze

Large investors have recently modified their holdings of the company. AWM Investment Company Inc. raised its holdings in shares of Backblaze by 42.0% in the 2nd quarter. AWM Investment Company Inc. now owns 556,783 shares of the company's stock worth $2,912,000 after purchasing an additional 164,783 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 301,271 shares during the period. BlackRock Inc. raised its holdings in shares of Backblaze by 7.9% in the 1st quarter. BlackRock Inc. now owns 116,228 shares of the company's stock worth $1,239,000 after purchasing an additional 8,536 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Backblaze in the 1st quarter worth about $620,000. Finally, State Street Corp purchased a new position in shares of Backblaze in the 1st quarter worth about $261,000. 12.70% of the stock is currently owned by hedge funds and other institutional investors.

About Backblaze

(Get Rating)

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.

Read More

• Get a free copy of the StockNews.com research report on Backblaze (BLZE)
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