Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna Sells 20,000 Shares

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $9.95, for a total value of $199,000.00. Following the sale, the vice president now directly owns 121,083 shares in the company, valued at approximately $1,204,775.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Tina Cessna also recently made the following trade(s):

• On Monday, February 26th, Tina Cessna sold 2,129 shares of Backblaze stock. The stock was sold at an average price of $9.84, for a total value of $20,949.36.
• On Thursday, February 22nd, Tina Cessna sold 1,485 shares of Backblaze stock. The stock was sold at an average price of $10.85, for a total value of $16,112.25.
• On Tuesday, February 20th, Tina Cessna sold 381 shares of Backblaze stock. The stock was sold at an average price of $11.50, for a total value of $4,381.50.
• On Friday, January 5th, Tina Cessna sold 20,000 shares of Backblaze stock. The stock was sold at an average price of $7.03, for a total value of $140,600.00.
• On Monday, January 8th, Tina Cessna sold 20,000 shares of Backblaze stock. The shares were sold at an average price of $7.05, for a total value of $141,000.00.

Backblaze Price Performance

Shares of Backblaze stock opened at $10.16 on Thursday. Backblaze, Inc. has a one year low of $3.50 and a one year high of $12.65. The business has a 50-day simple moving average of $9.71 and a 200 day simple moving average of $7.59. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

Backblaze (NASDAQ:BLZE) last issued its earnings results on Thursday, February 15th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Backblaze had a negative return on equity of 101.48% and a negative net margin of 57.70%. The business had revenue of $28.74 million during the quarter, compared to analyst estimates of $28.18 million. As a group, analysts anticipate that Backblaze, Inc. will post -1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. B. Riley boosted their price objective on Backblaze from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Oppenheimer boosted their price objective on Backblaze from $7.50 to $11.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Raymond James boosted their price objective on Backblaze from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, February 16th.

Institutional Trading of Backblaze

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cutler Group LLC CA increased its holdings in Backblaze by 553.0% during the 4th quarter. Cutler Group LLC CA now owns 3,918 shares of the company’s stock worth $29,000 after purchasing an additional 3,318 shares in the last quarter. Royal Bank of Canada increased 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 purchasing an additional 2,069 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Backblaze during the 3rd quarter worth approximately $34,000. Goldman Sachs Group Inc. increased its holdings in Backblaze by 23.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,951 shares of the company’s stock worth $65,000 after purchasing an additional 2,875 shares in the last quarter. Finally, AJOVista LLC bought a new stake in Backblaze during the 4th quarter worth approximately $67,000. 54.03% of the stock is owned by institutional investors.

Backblaze Company Profile

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.