Tina Cessna Sells 3,095 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 3,095 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $6.34, for a total transaction of $19,622.30. Following the completion of the sale, the vice president now owns 160,330 shares of the company’s stock, valued at approximately $1,016,492.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, August 23rd, Tina Cessna sold 3,894 shares of Backblaze stock. The shares were sold at an average price of $6.45, for a total value of $25,116.30.

Backblaze Stock Performance

BLZE opened at $6.59 on Friday. The company has a market capitalization of $273.49 million, a price-to-earnings ratio of -4.64 and a beta of 1.03. The business’s 50-day moving average price is $6.19 and its two-hundred day moving average price is $8.03. Backblaze, Inc. has a 1 year low of $4.64 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.70 and a quick ratio of 0.70.

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). The firm had revenue of $31.29 million during the quarter, compared to analyst estimates of $30.93 million. Backblaze had a negative net margin of 48.62% and a negative return on equity of 105.67%. During the same period in the prior year, the business posted ($0.38) EPS. Equities analysts expect that Backblaze, Inc. will post -1.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BLZE shares. Craig Hallum raised their price target on Backblaze from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer dropped their target price on shares of Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Backblaze currently has an average rating of “Buy” and an average price target of $12.60.

Institutional Trading of Backblaze

A number of institutional investors have recently made changes to their positions in the business. ClariVest Asset Management LLC increased its stake in Backblaze by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 75,554 shares of the company’s stock valued at $465,000 after buying an additional 2,154 shares during the last quarter. AJOVista LLC bought a new position in shares of Backblaze in the 4th quarter valued at about $67,000. SG Americas Securities LLC increased its position in shares of Backblaze by 84.1% in the second quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock valued at $131,000 after acquiring an additional 9,720 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Backblaze during the fourth quarter worth about $76,000. Finally, Lazard Asset Management LLC boosted its position in Backblaze by 165.7% during the first 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 during the last quarter. 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.