GSA Capital Partners LLP Has $1.39 Million Stake in Backblaze, Inc. $BLZE

GSA Capital Partners LLP boosted its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE) by 159.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,218 shares of the company’s stock after purchasing an additional 184,015 shares during the period. GSA Capital Partners LLP owned 0.52% of Backblaze worth $1,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Backblaze by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,693,508 shares of the company’s stock valued at $24,996,000 after purchasing an additional 134,034 shares in the last quarter. Wasatch Advisors LP acquired a new stake in Backblaze during the 3rd quarter valued at $17,021,000. Geode Capital Management LLC increased its holdings in Backblaze by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,168,558 shares of the company’s stock valued at $6,428,000 after purchasing an additional 139,429 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Backblaze by 20.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 953,914 shares of the company’s stock valued at $8,852,000 after purchasing an additional 159,324 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Backblaze by 12.9% during the 3rd quarter. Millennium Management LLC now owns 870,250 shares of the company’s stock valued at $8,076,000 after purchasing an additional 99,375 shares in the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Stock Down 1.1%

NASDAQ BLZE opened at $7.43 on Thursday. The stock has a fifty day moving average of $4.63 and a 200-day moving average of $4.77. The stock has a market capitalization of $446.54 million, a P/E ratio of -19.05 and a beta of 1.41. Backblaze, Inc. has a 52 week low of $3.26 and a 52 week high of $10.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 1.05.

Backblaze (NASDAQ:BLZE) last released its earnings results on Monday, May 4th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $38.67 million during the quarter, compared to analysts’ expectations of $37.78 million. Backblaze had a negative return on equity of 20.54% and a negative net margin of 14.97%. On average, equities research analysts forecast that Backblaze, Inc. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

BLZE has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price target on Backblaze from $6.00 to $8.50 and gave the company a “buy” rating in a report on Tuesday, May 5th. Craig Hallum cut Backblaze from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a report on Tuesday, February 24th. Citizens Jmp reissued a “market outperform” rating and issued a $8.00 target price on shares of Backblaze in a research note on Tuesday, May 5th. Lake Street Capital lifted their target price on Backblaze from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Citigroup reissued a “market outperform” rating on shares of Backblaze in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Backblaze has a consensus rating of “Moderate Buy” and an average price target of $8.00.

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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.