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

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 of the company’s stock, valued at $908,447.96. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $6.61, for a total value of $3,860.24.

Backblaze Stock Up 3.0 %

Backblaze stock opened at $6.19 on Wednesday. The stock has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $6.57. The company has a market capitalization of $274.84 million, a P/E ratio of -5.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Backblaze, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $12.65.

Analyst Upgrades and Downgrades

BLZE has been the topic of a number of recent analyst reports. Lake Street Capital dropped their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. B. Riley lowered their price objective on Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Raymond James raised their target price on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average 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 company. AWM Investment Company Inc. raised its stake in Backblaze by 2,664.4% during the 4th quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company’s stock valued at $16,755,000 after acquiring an additional 2,682,480 shares during the last quarter. Connective Capital Management LLC purchased a new position in shares of Backblaze during the 4th quarter worth approximately $600,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Backblaze in the fourth quarter valued at approximately $101,000. Two Sigma Investments LP raised its position in Backblaze by 11.0% in the fourth quarter. Two Sigma Investments LP now owns 272,838 shares of the company’s stock worth $1,642,000 after acquiring an additional 27,139 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Backblaze in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 54.03% of the company’s stock.

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.