Tina Cessna Sells 3,778 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 3,778 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $6.58, for a total transaction of $24,859.24. Following the completion of the transaction, the vice president now directly owns 138,062 shares of the company’s stock, valued at $908,447.96. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, February 27th, Tina Cessna sold 584 shares of Backblaze stock. The shares were sold at an average price of $6.61, for a total transaction of $3,860.24.

Backblaze Trading Down 1.3 %

BLZE opened at $6.11 on Thursday. The stock has a market capitalization of $271.28 million, a P/E ratio of -5.50 and a beta of 0.92. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $12.65. The firm’s fifty day simple moving average is $6.51 and its 200 day simple moving average is $6.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Backblaze

Several institutional investors have recently added to or reduced their stakes in BLZE. AWM Investment Company Inc. lifted its position in Backblaze by 2,664.4% in the 4th quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company’s stock valued at $16,755,000 after acquiring an additional 2,682,480 shares in the last quarter. AIGH Capital Management LLC bought a new stake in Backblaze during the 4th quarter worth about $10,836,000. Thompson Siegel & Walmsley LLC bought a new stake in Backblaze during the 4th quarter worth about $2,956,000. P.A.W. Capital Corp bought a new stake in Backblaze during the 4th quarter worth about $1,926,000. Finally, Raymond James Financial Inc. bought a new stake in Backblaze during the 4th quarter worth about $1,618,000. 54.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLZE has been the subject of several research analyst reports. B. Riley decreased their price target on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Raymond James boosted their price target on shares of Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Lake Street Capital cut their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. 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 target price of $11.40.

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.