Backblaze, Inc. (NASDAQ:BLZE – Get Rating) major shareholder Charles J. Jones sold 2,000 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $6.92, for a total value of $13,840.00. Following the completion of the sale, the insider now owns 206,000 shares of the company's stock, valued at $1,425,520. The sale was disclosed in a filing with the SEC, which is available at this link. 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
BLZE stock opened at $7.30 on Friday. The stock's 50 day moving average is $5.83 and its two-hundred day moving average is $5.66. Backblaze, Inc. has a 52-week low of $3.82 and a 52-week high of $15.89. The company has a market capitalization of $237.98 million, a PE ratio of -4.68 and a beta of 0.21. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.27.
Get Backblaze alerts:Backblaze (NASDAQ:BLZE – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The company had revenue of $22.05 million during the quarter, compared to analyst estimates of $21.95 million. Backblaze had a negative net margin of 57.47% and a negative return on equity of 54.31%. Analysts predict that Backblaze, Inc. will post -1.6 earnings per share for the current fiscal year.
Institutional Trading of Backblaze
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Backblaze by 275.9% during the 1st 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 during the last quarter. UMB Bank n.a. bought a new position in Backblaze during the fourth quarter worth $49,000. Trexquant Investment LP acquired a new position in Backblaze in the second quarter worth $65,000. Goldman Sachs Group Inc. bought a new stake in Backblaze during the first quarter valued at $117,000. Finally, Blair William & Co. IL acquired a new position in shares of Backblaze in the 1st quarter valued at about $140,000. 12.70% of the stock is owned by institutional investors.Wall Street Analysts Forecast Growth
BLZE has been the topic of several recent research reports. Raymond James reduced their price target on Backblaze from $14.50 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, November 10th. B. Riley reduced their target price on shares of Backblaze from $11.00 to $8.50 in a research report on Thursday, November 10th. Finally, Oppenheimer lowered their price target on shares of Backblaze to $8.50 in a report on Tuesday, November 15th.
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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