Backblaze, Inc. (NASDAQ:BLZE) is Whetstone Capital Advisors LLC’s 5th Largest Position

Whetstone Capital Advisors LLC trimmed its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,587,009 shares of the company’s stock after selling 13,780 shares during the period. Backblaze comprises 4.9% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 5th largest position. Whetstone Capital Advisors LLC’s holdings in Backblaze were worth $10,141,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC purchased a new position in Backblaze during the 3rd quarter valued at $640,000. Charles Schwab Investment Management Inc. increased its position in shares of Backblaze by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company’s stock valued at $755,000 after buying an additional 5,098 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Backblaze by 45.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 339,882 shares of the company’s stock worth $2,172,000 after buying an additional 106,285 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Backblaze during the 3rd quarter valued at approximately $944,000. Finally, Tempus Wealth Planning LLC purchased a new position in shares of Backblaze during the 3rd quarter worth approximately $157,000. 54.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLZE. Raymond James lifted their price target on Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Craig Hallum increased their price objective on shares of Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Oppenheimer decreased their target price on shares of Backblaze from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, August 9th.

Backblaze Stock Up 0.2 %

Shares of BLZE stock opened at $6.26 on Monday. The company has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $6.45. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $12.65. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Backblaze (NASDAQ:BLZE) last released its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share 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 analysts’ expectations of $32.54 million. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. During the same quarter last year, the firm posted ($0.43) earnings per share. On average, analysts expect that Backblaze, Inc. will post -1.02 EPS for the current fiscal year.

Backblaze 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.