Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna Sells 20,000 Shares

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 20,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $9.95, for a total value of $199,000.00. Following the completion of the transaction, the vice president now owns 121,083 shares of the company’s stock, valued at approximately $1,204,775.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, February 26th, Tina Cessna sold 2,129 shares of Backblaze stock. The shares were sold at an average price of $9.84, for a total value of $20,949.36.
• On Thursday, February 22nd, Tina Cessna sold 1,485 shares of Backblaze stock. The shares were sold at an average price of $10.85, for a total value of $16,112.25.
• On Tuesday, February 20th, Tina Cessna sold 381 shares of Backblaze stock. The shares were sold at an average price of $11.50, for a total value of $4,381.50.
• On Friday, January 5th, Tina Cessna sold 20,000 shares of Backblaze stock. The stock was sold at an average price of $7.03, for a total value of $140,600.00.
• On Monday, January 8th, Tina Cessna sold 20,000 shares of Backblaze stock. The stock was sold at an average price of $7.05, for a total value of $141,000.00.

Backblaze Trading Up 2.6 %

Shares of NASDAQ BLZE opened at $10.16 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50-day simple moving average is $9.71 and its 200-day simple moving average is $7.59. Backblaze, Inc. has a 52 week low of $3.50 and a 52 week high of $12.65.

Backblaze (NASDAQ:BLZE) last released its earnings results on Thursday, February 15th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $28.74 million for the quarter, compared to analyst estimates of $28.18 million. Backblaze had a negative return on equity of 101.48% and a negative net margin of 57.70%. On average, analysts forecast that Backblaze, Inc. will post -1.12 earnings per share for the current fiscal year.

Institutional Trading of Backblaze

Several institutional investors have recently modified their holdings of BLZE. Vanguard Group Inc. grew its holdings in shares of Backblaze by 123.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,504,801 shares of the company’s stock worth $8,276,000 after purchasing an additional 830,916 shares in the last quarter. Whetstone Capital Advisors LLC grew its holdings in shares of Backblaze by 50.6% during the 2nd quarter. Whetstone Capital Advisors LLC now owns 1,600,789 shares of the company’s stock worth $6,931,000 after purchasing an additional 537,565 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Backblaze during the 3rd quarter worth approximately $2,479,000. EAM Investors LLC acquired a new stake in shares of Backblaze during the 3rd quarter worth approximately $1,389,000. Finally, Scalar Gauge Management LLC acquired a new stake in shares of Backblaze during the 4th quarter worth approximately $1,677,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James increased their price objective on Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Oppenheimer increased their price objective on Backblaze from $7.50 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, B. Riley raised their price target on Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 9th.

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.