Backblaze, Inc. (NASDAQ:BLZE) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd grew its position in Backblaze, Inc. (NASDAQ:BLZE) by 90.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,851 shares of the company’s stock after buying an additional 16,577 shares during the quarter. XTX Topco Ltd owned 0.08% of Backblaze worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BLZE. SG Americas Securities LLC boosted its stake in Backblaze by 84.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock worth $131,000 after buying an additional 9,720 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Backblaze during the 1st quarter worth $154,000. Lazard Asset Management LLC increased its holdings in Backblaze by 165.7% in the 1st quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock valued at $185,000 after purchasing an additional 11,289 shares in the last quarter. Virtu Financial LLC purchased a new position in Backblaze in the fourth quarter valued at about $252,000. Finally, Rhumbline Advisers lifted its stake in shares of Backblaze by 3,750.3% during the second quarter. Rhumbline Advisers now owns 47,474 shares of the company’s stock worth $292,000 after purchasing an additional 46,241 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Backblaze Stock Up 2.1 %

Shares of NASDAQ BLZE opened at $6.38 on Monday. The firm has a market cap of $264.77 million, a price-to-earnings ratio of -4.49 and a beta of 1.01. Backblaze, Inc. has a 1 year low of $4.80 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.61. The stock’s 50-day simple moving average is $6.17 and its 200-day simple moving average is $7.26.

Backblaze (NASDAQ:BLZE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). Backblaze had a negative net margin of 42.34% and a negative return on equity of 104.71%. The business had revenue of $31.29 million during the quarter, compared to analyst estimates of $30.93 million. During the same period in the previous year, the company earned ($0.38) earnings per share. As a group, equities analysts anticipate that Backblaze, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Backblaze

In other news, VP Tina Cessna sold 3,894 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.45, for a total value of $25,116.30. Following the sale, the vice president now owns 153,440 shares in the company, valued at approximately $989,688. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Barbara H. Nelson sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.79, for a total transaction of $108,640.00. Following the sale, the director now directly owns 62,346 shares of the company’s stock, valued at approximately $423,329.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Tina Cessna sold 3,894 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $6.45, for a total value of $25,116.30. Following the transaction, the vice president now owns 153,440 shares in the company, valued at $989,688. The disclosure for this sale can be found here. Insiders have sold 47,483 shares of company stock worth $311,530 in the last ninety days. 5.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BLZE has been the subject of a number of recent research reports. Craig Hallum increased their target price on Backblaze from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer lowered their price objective on shares of Backblaze from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, August 9th.

Backblaze 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.