Backblaze, Inc. (NASDAQ:BLZE) Shares Acquired by Tempus Wealth Planning LLC

Tempus Wealth Planning LLC raised its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 98.5% in the fourth quarter, HoldingsChannel reports. The firm owned 48,860 shares of the company’s stock after acquiring an additional 24,240 shares during the period. Tempus Wealth Planning LLC’s holdings in Backblaze were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLZE. Verition Fund Management LLC grew its holdings in Backblaze by 15.4% in the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after buying an additional 2,106 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Backblaze by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company’s stock worth $755,000 after acquiring an additional 5,098 shares during the period. R Squared Ltd bought a new position in shares of Backblaze in the fourth quarter worth $38,000. SG Americas Securities LLC increased its holdings in shares of Backblaze by 46.7% during the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock valued at $120,000 after purchasing an additional 6,322 shares during the period. Finally, Atom Investors LP raised its stake in shares of Backblaze by 27.2% during the third quarter. Atom Investors LP now owns 57,221 shares of the company’s stock valued at $366,000 after purchasing an additional 12,230 shares in the last quarter. Institutional investors own 54.03% of the company’s stock.

Backblaze Trading Up 3.7 %

Shares of Backblaze stock opened at $6.14 on Wednesday. The business has a fifty day simple moving average of $6.41 and a 200-day simple moving average of $6.46. Backblaze, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $12.65. The firm has a market cap of $272.62 million, a price-to-earnings ratio of -5.53 and a beta of 0.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). The business had revenue of $32.59 million during the quarter, compared to analyst estimates of $32.54 million. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. During the same period in the previous year, the company posted ($0.43) earnings per share. On average, equities analysts forecast that Backblaze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gleb Budman sold 10,321 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total transaction of $66,260.82. Following the completion of the sale, the chief executive officer now owns 1,864,646 shares in the company, valued at approximately $11,971,027.32. This represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Tina Cessna sold 8,874 shares of Backblaze stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the transaction, the vice president now owns 144,566 shares in the company, valued at $928,113.72. The trade was a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BLZE shares. Raymond James increased their target price on shares of Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Craig Hallum increased their price objective on shares of Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, October 21st.

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.