Tempus Wealth Planning LLC Invests $157,000 in Backblaze, Inc. (NASDAQ:BLZE)

Tempus Wealth Planning LLC purchased a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,620 shares of the company’s stock, valued at approximately $157,000. Tempus Wealth Planning LLC owned 0.06% of Backblaze as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BLZE. The Manufacturers Life Insurance Company purchased a new position in shares of Backblaze during the second quarter worth $102,000. SG Americas Securities LLC boosted its position in shares of Backblaze by 84.1% during the second 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 period. Hillsdale Investment Management Inc. purchased a new position in shares of Backblaze during the first quarter worth $154,000. Lazard Asset Management LLC raised its stake in shares of Backblaze by 165.7% in the first quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock valued at $185,000 after acquiring an additional 11,289 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Backblaze by 90.7% in the second quarter. XTX Topco Ltd now owns 34,851 shares of the company’s stock valued at $215,000 after acquiring an additional 16,577 shares in the last quarter. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Backblaze Stock Down 2.0 %

Shares of NASDAQ BLZE opened at $7.24 on Thursday. The company has a market capitalization of $300.46 million, a price-to-earnings ratio of -5.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.61 and a quick ratio of 0.61. The business has a 50-day moving average of $6.41 and a two-hundred day moving average of $6.83. Backblaze, Inc. has a 1 year low of $4.83 and a 1 year high of $12.65.

Backblaze (NASDAQ:BLZE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $30.93 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. On average, analysts forecast that Backblaze, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other Backblaze news, VP Tina Cessna sold 3,894 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.45, for a total transaction of $25,116.30. Following the transaction, the vice president now owns 153,440 shares in the company, valued at approximately $989,688. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Backblaze news, CEO Gleb Budman sold 4,527 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.45, for a total transaction of $29,199.15. Following the transaction, the chief executive officer now owns 1,874,967 shares in the company, valued at approximately $12,093,537.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Tina Cessna sold 3,894 shares of the business’s stock in a transaction that occurred 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,483 shares of company stock valued at $311,530. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BLZE shares. Craig Hallum increased their price objective on Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer decreased their price target on Backblaze from $11.00 to $10.00 and set an “outperform” rating for the company in a 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.