Backblaze, Inc. (NASDAQ:BLZE – Get Rating) major shareholder Charles J. Jones sold 2,000 shares of the firm's stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of 6.96, for a total value of 13,920.00. Following the completion of the sale, the insider now owns 224,000 shares in the company, valued at 1,559,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Backblaze Price Performance
Shares of NASDAQ BLZE opened at 7.82 on Monday. Backblaze, Inc. has a fifty-two week low of 3.82 and a fifty-two week high of 15.89. The firm's 50-day simple moving average is 5.21 and its 200 day simple moving average is 5.51. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.27. The stock has a market cap of $254.93 million, a P/E ratio of -5.01 and a beta of 0.21.
Get Backblaze alerts:Backblaze (NASDAQ:BLZE – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported -0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of -0.36 by -0.04. The firm had revenue of 22.05 million for the quarter, compared to analyst estimates of 21.95 million. Backblaze had a negative return on equity of 54.31% and a negative net margin of 57.47%. Equities analysts expect that Backblaze, Inc. will post -1.6 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on BLZE shares. B. Riley cut their price objective on shares of Backblaze from $11.00 to $8.50 in a research note on Thursday, November 10th. Raymond James cut their price objective on shares of Backblaze from $14.50 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, November 10th. Finally, Oppenheimer cut their price objective on shares of Backblaze to $8.50 in a research note on Tuesday, November 15th.Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. grew its holdings in Backblaze by 42.0% during the second quarter. AWM Investment Company Inc. now owns 556,783 shares of the company's stock worth $2,912,000 after acquiring an additional 164,783 shares during the period. Vanguard Group Inc. grew its holdings in Backblaze by 17.4% during the third quarter. Vanguard Group Inc. now owns 519,693 shares of the company's stock worth $2,583,000 after acquiring an additional 77,154 shares during the period. BlackRock Inc. increased its stake in 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 in the last quarter. Renaissance Technologies LLC increased its stake in Backblaze by 115.2% in the 3rd quarter. Renaissance Technologies LLC now owns 93,200 shares of the company's stock worth $463,000 after purchasing an additional 49,900 shares in the last quarter. Finally, Perkins Capital Management Inc. purchased a new position in Backblaze in the 3rd quarter worth about $366,000. 12.70% of the stock is owned by institutional investors and hedge funds.
Backblaze Company Profile
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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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