Backblaze, Inc. (NASDAQ:BLZE) CFO Sells $17,576.08 in Stock

Backblaze, Inc. (NASDAQ:BLZEGet Free Report) CFO Francis P. Patchel sold 2,647 shares of Backblaze stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $6.64, for a total value of $17,576.08. Following the completion of the sale, the chief financial officer now owns 172,981 shares in the company, valued at $1,148,593.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Backblaze Price Performance

Shares of NASDAQ BLZE traded down $0.11 during trading on Friday, reaching $6.67. The company had a trading volume of 414,713 shares, compared to its average volume of 401,322. Backblaze, Inc. has a twelve month low of $3.50 and a twelve month high of $12.65. The stock has a market capitalization of $276.81 million, a PE ratio of -4.70 and a beta of 1.21. The stock has a 50-day moving average price of $9.10 and a two-hundred day moving average price of $8.51. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34.

Analysts Set New Price Targets

A number of analysts have commented on BLZE shares. Oppenheimer boosted their target price on Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. B. Riley boosted their target price on Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Raymond James boosted their target price on Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th.

Check Out Our Latest Stock Report on BLZE

Hedge Funds Weigh In On Backblaze

Institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in Backblaze by 10.2% in the first quarter. First Eagle Investment Management LLC now owns 726,990 shares of the company’s stock valued at $7,437,000 after purchasing an additional 67,475 shares during the last quarter. Acadian Asset Management LLC increased its stake in Backblaze by 117.0% in the first quarter. Acadian Asset Management LLC now owns 689,599 shares of the company’s stock valued at $7,052,000 after purchasing an additional 371,851 shares during the last quarter. EAM Investors LLC acquired a new position in Backblaze in the third quarter valued at $1,389,000. Scalar Gauge Management LLC acquired a new position in Backblaze in the fourth quarter valued at $1,677,000. Finally, Essex Investment Management Co. LLC acquired a new position in Backblaze in the first quarter valued at $2,048,000. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Backblaze (NASDAQ:BLZE)

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