Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna Sells 3,778 Shares

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 3,778 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $6.58, for a total value of $24,859.24. Following the transaction, the vice president now directly owns 138,062 shares in the company, valued at $908,447.96. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, February 27th, Tina Cessna sold 584 shares of Backblaze stock. The stock was sold at an average price of $6.61, for a total value of $3,860.24.

Backblaze Price Performance

NASDAQ:BLZE opened at $6.01 on Tuesday. Backblaze, Inc. has a 52 week low of $4.91 and a 52 week high of $12.65. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $266.84 million, a P/E ratio of -5.41 and a beta of 0.92. The stock’s fifty day moving average is $6.52 and its two-hundred day moving average is $6.58.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLZE shares. B. Riley lowered their price objective on Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Raymond James boosted their price objective on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Lake Street Capital lowered their price objective on Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Backblaze currently has an average rating of “Buy” and a consensus target price of $11.40.

Institutional Investors Weigh In On Backblaze

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. raised its position in Backblaze by 2,664.4% in the fourth quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company’s stock valued at $16,755,000 after purchasing an additional 2,682,480 shares during the period. Connective Capital Management LLC purchased a new stake in shares of Backblaze in the 4th quarter valued at $600,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Backblaze in the 4th quarter valued at $101,000. Two Sigma Investments LP raised its holdings in shares of Backblaze by 11.0% in the 4th quarter. Two Sigma Investments LP now owns 272,838 shares of the company’s stock valued at $1,642,000 after buying an additional 27,139 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of Backblaze in the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 54.03% of the company’s stock.

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.