Backblaze, Inc. (NASDAQ:BLZE) CFO Francis P. Patchel Sells 2,156 Shares

Backblaze, Inc. (NASDAQ:BLZEGet Free Report) CFO Francis P. Patchel sold 2,156 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.75, for a total transaction of $14,553.00. Following the transaction, the chief financial officer now directly owns 177,832 shares of the company’s stock, valued at $1,200,366. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Backblaze Stock Up 1.2 %

Shares of NASDAQ:BLZE traded up $0.08 on Thursday, reaching $6.78. The company had a trading volume of 633,864 shares, compared to its average volume of 372,313. The firm has a market capitalization of $281.37 million, a PE ratio of -4.77 and a beta of 1.21. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34. Backblaze, Inc. has a 52-week low of $3.50 and a 52-week high of $12.65. The firm’s 50 day simple moving average is $9.18 and its 200-day simple moving average is $8.52.

Wall Street Analyst Weigh In

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

Get Our Latest Report on BLZE

Hedge Funds Weigh In On Backblaze

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC acquired a new stake in shares of Backblaze in the 3rd quarter worth $2,479,000. Acadian Asset Management LLC grew its stake in shares of Backblaze by 117.0% during the first quarter. Acadian Asset Management LLC now owns 689,599 shares of the company’s stock worth $7,052,000 after acquiring an additional 371,851 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Backblaze during the third quarter valued at about $1,389,000. Scalar Gauge Management LLC purchased a new position in shares of Backblaze in the 4th quarter valued at approximately $1,677,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Backblaze in the 1st quarter worth approximately $2,048,000. 54.03% of the stock is owned by hedge funds and other institutional investors.

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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