Insider Selling: Blaize (NASDAQ:BZAI) CEO Sells 50,000 Shares of Stock

Blaize Holdings, Inc. (NASDAQ:BZAI) CEO Dinakar Munagala sold 50,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the sale, the chief executive officer directly owned 551,422 shares in the company, valued at approximately $1,400,611.88. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blaize Stock Performance

Shares of NASDAQ:BZAI traded down $0.20 during trading hours on Monday, reaching $2.32. The stock had a trading volume of 12,251,965 shares, compared to its average volume of 6,057,842. Blaize Holdings, Inc. has a 1 year low of $1.00 and a 1 year high of $6.76. The firm’s 50 day moving average is $1.41 and its 200-day moving average is $2.32. The stock has a market capitalization of $284.78 million and a price-to-earnings ratio of -1.07.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Blaize in a research note on Friday, March 27th. B. Riley Financial dropped their price target on Blaize from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen upgraded Blaize from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Rosenblatt Securities restated a “buy” rating and set a $6.00 price target on shares of Blaize in a research note on Thursday. Finally, Zacks Research upgraded Blaize from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.50.

Hedge Funds Weigh In On Blaize

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Blaize by 0.5% in the second quarter. Geode Capital Management LLC now owns 655,679 shares of the company’s stock valued at $1,955,000 after acquiring an additional 3,031 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Blaize in the third quarter valued at about $26,000. Virtu Financial LLC purchased a new stake in shares of Blaize in the third quarter valued at about $42,000. ProShare Advisors LLC purchased a new stake in shares of Blaize in the third quarter valued at about $43,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Blaize in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 97.12% of the company’s stock.

About Blaize

Blaize (NASDAQ: BZAI) is a fabless semiconductor company that designs and develops hardware and software solutions for artificial intelligence (AI) and machine learning applications at the edge. The company’s core technology is centered on its proprietary Graph Streaming Processor (GSP) architecture, which combines dataflow computing with a highly parallel matrix processing engine to deliver real-time AI inference with low power consumption. Blaize’s platform is aimed at customers seeking to deploy sophisticated AI workloads in environments where power efficiency, latency and form factor are critical.

The company offers a hardware portfolio that includes standalone GSP modules, PCIe cards and M.2 form-factor boards, alongside its Blaize AI software stack.