Tina Cessna Sells 2,212 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 2,212 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $6.75, for a total value of $14,931.00. Following the completion of the transaction, the vice president now directly owns 118,871 shares in the company, valued at $802,379.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, May 23rd, Tina Cessna sold 2,715 shares of Backblaze stock. The shares were sold at an average price of $6.64, for a total transaction of $18,027.60.
• On Tuesday, March 26th, Tina Cessna sold 20,000 shares of Backblaze stock. The shares were sold at an average price of $9.95, for a total transaction of $199,000.00.
• On Monday, February 26th, Tina Cessna sold 2,129 shares of Backblaze stock. The stock was sold at an average price of $9.84, for a total value of $20,949.36.

Backblaze Stock Performance

Shares of BLZE stock traded down $0.11 during mid-day trading on Friday, reaching $6.67. The stock had a trading volume of 414,713 shares, compared to its average volume of 401,322. The firm has a market cap of $276.81 million, a PE ratio of -4.70 and a beta of 1.21. The firm’s 50 day simple moving average is $9.10 and its 200 day simple moving average is $8.51. Backblaze, Inc. has a one year low of $3.50 and a one year high of $12.65. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Backblaze

Several institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC acquired a new stake in Backblaze in the 3rd quarter valued at about $2,479,000. Acadian Asset Management LLC lifted its stake in Backblaze by 117.0% in the 1st quarter. Acadian Asset Management LLC now owns 689,599 shares of the company’s stock valued at $7,052,000 after purchasing an additional 371,851 shares during the last quarter. EAM Investors LLC acquired a new stake in Backblaze during the 3rd quarter worth approximately $1,389,000. Scalar Gauge Management LLC bought a new position in Backblaze during the 4th quarter worth $1,677,000. Finally, Essex Investment Management Co. LLC bought a new position in Backblaze during the 1st quarter worth approximately $2,048,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Backblaze from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Raymond James upped their price objective on Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a report 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 report 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.