Backblaze, Inc. (NASDAQ:BLZE – Get Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $6.94, for a total value of $13,880.00. Following the transaction, the insider now owns 200,000 shares of the company's stock, valued at approximately $1,388,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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):
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- On Friday, January 27th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $7.24, for a total value of $14,480.00.
- On Monday, January 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.71, for a total transaction of $15,420.00.
- On Thursday, January 19th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $7.13, for a total transaction of $14,260.00.
- 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 stock was 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 stock was sold at an average price of $6.14, for a total transaction of $12,280.00.
- On Thursday, December 29th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.62, for a total transaction 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 transaction of $10,860.00.
Backblaze Stock Performance
Shares of BLZE traded up $0.27 during mid-day trading on Tuesday, hitting $7.14. 53,409 shares of the company's stock were exchanged, compared to its average volume of 101,335. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.27. Backblaze, Inc. has a 52 week low of $3.82 and a 52 week high of $15.89. The stock's 50-day simple moving average is $5.89 and its 200-day simple moving average is $5.67. The firm has a market cap of $232.76 million, a price-to-earnings ratio of -4.58 and a beta of 0.20.
Backblaze (NASDAQ:BLZE – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04). The company had revenue of $22.05 million for the quarter, compared to the consensus estimate of $21.95 million. Backblaze had a negative return on equity of 54.31% and a negative net
margin of 57.47%. On average, equities research analysts expect that Backblaze, Inc. will post -1.6 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BLZE shares. B. Riley reduced their price objective on Backblaze from $11.00 to $8.50 in a report on Thursday, November 10th. Oppenheimer decreased their price objective on Backblaze to $8.50 in a report on Tuesday, November 15th. Finally, Raymond James dropped their target price on Backblaze from $14.50 to $11.00 and set an "outperform" rating for the company in a report on Thursday, November 10th.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in Backblaze by 275.9% during the first quarter. Royal Bank of Canada now owns 2,819 shares of the company's stock worth $30,000 after buying an additional 2,069 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Backblaze during the 4th quarter worth approximately $49,000. Goldman Sachs Group Inc. bought a new position in Backblaze in the first quarter valued at approximately $117,000. Trexquant Investment LP acquired a new position in Backblaze during the second quarter valued at approximately $65,000. Finally, Blair William & Co. IL acquired a new stake in shares of Backblaze in the 1st quarter valued at $140,000. Institutional investors and hedge funds own 12.70% of the company's stock.
About Backblaze
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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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