Gleb Budman Sells 4,527 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZE) CEO Gleb Budman sold 4,527 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.45, for a total transaction of $29,199.15. Following the completion of the sale, the chief executive officer now owns 1,874,967 shares in the company, valued at $12,093,537.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Gleb Budman also recently made the following trade(s):

• On Wednesday, August 21st, Gleb Budman sold 3,599 shares of Backblaze stock. The shares were sold at an average price of $6.34, for a total transaction of $22,817.66.

Backblaze Stock Performance

Shares of NASDAQ BLZE traded up $0.42 during mid-day trading on Friday, hitting $6.59. The stock had a trading volume of 835,527 shares, compared to its average volume of 383,315. The firm has a market cap of $273.49 million, a PE ratio of -4.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.70 and a current ratio of 0.70. The company has a 50 day moving average of $6.17 and a two-hundred day moving average of $8.04. Backblaze, Inc. has a twelve month low of $4.64 and a twelve month high of $12.65.

Backblaze (NASDAQ:BLZE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The firm had revenue of $31.29 million during the quarter, compared to analysts’ expectations of $30.93 million. Backblaze had a negative return on equity of 105.67% and a negative net margin of 48.62%. During the same quarter in the previous year, the business earned ($0.38) earnings per share. Research analysts predict that Backblaze, Inc. will post -1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Craig Hallum increased their price objective on Backblaze from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer decreased their price target on Backblaze from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Backblaze currently has a consensus rating of “Buy” and an average target price of $12.60.

Institutional Trading of Backblaze

Large investors have recently made changes to their positions in the business. ClariVest Asset Management LLC grew its holdings in Backblaze by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 75,554 shares of the company’s stock worth $465,000 after acquiring an additional 2,154 shares during the period. AJOVista LLC acquired a new stake in shares of Backblaze during the 4th quarter worth approximately $67,000. SG Americas Securities LLC increased its holdings in shares of Backblaze by 84.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock valued at $131,000 after purchasing an additional 9,720 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Backblaze in the 4th quarter valued at $76,000. Finally, Lazard Asset Management LLC boosted its holdings in Backblaze by 165.7% during the first quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock worth $185,000 after buying an additional 11,289 shares in the last quarter. 54.03% of the stock is owned by hedge funds and other institutional investors.

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.