Insider Selling: Backblaze, Inc. (NASDAQ:BLZE) VP Sells $18,027.60 in Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 2,715 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $6.64, for a total transaction of $18,027.60. Following the completion of the transaction, the vice president now directly owns 113,895 shares in the company, valued at approximately $756,262.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, May 21st, Tina Cessna sold 2,212 shares of Backblaze stock. The shares were sold at an average price of $6.75, for a total transaction of $14,931.00.
• On Tuesday, March 26th, Tina Cessna sold 20,000 shares of Backblaze stock. The stock was sold at an average price of $9.95, for a total value of $199,000.00.
• 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.

Backblaze Trading Up 1.0 %

Shares of BLZE stock traded up $0.07 during trading hours on Friday, reaching $6.85. 63,252 shares of the stock were exchanged, compared to its average volume of 369,050. The firm has a market capitalization of $284.28 million, a price-to-earnings ratio of -4.77 and a beta of 1.21. Backblaze, Inc. has a 12-month low of $3.50 and a 12-month high of $12.65. The company’s 50-day moving average price is $9.18 and its 200-day moving average price is $8.52. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BLZE. Lazard Asset Management LLC lifted its stake in shares of Backblaze by 165.7% during the 1st quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock worth $185,000 after acquiring an additional 11,289 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Backblaze during the first quarter worth $643,000. Hillsdale Investment Management Inc. bought a new position in shares of Backblaze in the first quarter worth about $154,000. Acadian Asset Management LLC lifted its holdings in Backblaze by 117.0% during the 1st quarter. Acadian Asset Management LLC now owns 689,599 shares of the company’s stock valued at $7,052,000 after buying an additional 371,851 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Backblaze by 10.2% in the 1st quarter. First Eagle Investment Management LLC now owns 726,990 shares of the company’s stock worth $7,437,000 after acquiring an additional 67,475 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Analyst Upgrades and Downgrades

BLZE has been the topic of several research reports. Oppenheimer boosted their price target on shares of Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Raymond James upped their target price on shares of Backblaze from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, B. Riley lifted their price target on Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 9th.

About Backblaze

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.