Tempus Wealth Planning LLC Raises Stake in Backblaze, Inc. (NASDAQ:BLZE)

Tempus Wealth Planning LLC boosted its holdings in Backblaze, Inc. (NASDAQ:BLZE) by 98.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 48,860 shares of the company’s stock after buying an additional 24,240 shares during the period. Tempus Wealth Planning LLC owned approximately 0.11% of Backblaze worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLZE. Penbrook Management LLC purchased a new stake in shares of Backblaze in the fourth quarter worth about $288,000. R Squared Ltd purchased a new position in Backblaze in the 4th quarter worth approximately $38,000. SG Americas Securities LLC grew its position in Backblaze by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock valued at $120,000 after acquiring an additional 6,322 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Backblaze by 241.8% during the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company’s stock valued at $801,000 after purchasing an additional 88,652 shares during the period. Finally, Barclays PLC lifted its position in shares of Backblaze by 124.4% during the third quarter. Barclays PLC now owns 78,205 shares of the company’s stock worth $500,000 after purchasing an additional 43,354 shares in the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLZE. Craig Hallum raised their price target on shares of Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, October 21st. Raymond James raised their target price on Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Backblaze Trading Up 3.7 %

BLZE opened at $6.14 on Wednesday. Backblaze, Inc. has a 12-month low of $4.91 and a 12-month high of $12.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $272.62 million, a PE ratio of -5.53 and a beta of 0.92. The firm’s fifty day moving average price is $6.41 and its 200 day moving average price is $6.46.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The company had revenue of $32.59 million for the quarter, compared to the consensus estimate of $32.54 million. Backblaze had a negative return on equity of 100.67% and a negative net margin of 37.13%. During the same period in the previous year, the business posted ($0.43) EPS. As a group, research analysts expect that Backblaze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity

In other Backblaze news, VP Tina Cessna sold 8,874 shares of Backblaze stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the transaction, the vice president now directly owns 144,566 shares in the company, valued at $928,113.72. The trade was a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gleb Budman sold 10,321 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $66,260.82. Following the sale, the chief executive officer now owns 1,864,646 shares in the company, valued at $11,971,027.32. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% 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.