Baader Bank Aktiengesellschaft Invests $699,000 in Backblaze, Inc. $BLZE

Baader Bank Aktiengesellschaft acquired a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) during the fourth quarter, Holdings Channel reports. The fund acquired 150,000 shares of the company’s stock, valued at approximately $699,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLZE. AQR Capital Management LLC bought a new position in shares of Backblaze during the 1st quarter worth about $426,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Backblaze by 17.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,094 shares of the company’s stock worth $131,000 after purchasing an additional 4,060 shares in the last quarter. Millennium Management LLC boosted its position in shares of Backblaze by 32.5% during the 1st quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock worth $3,987,000 after purchasing an additional 202,609 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Backblaze by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 261,610 shares of the company’s stock worth $1,264,000 after purchasing an additional 55,720 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Backblaze by 13.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,168,558 shares of the company’s stock worth $6,428,000 after purchasing an additional 139,429 shares in the last quarter. Institutional investors own 54.03% of the company’s stock.

Analyst Ratings Changes

BLZE has been the subject of a number of recent research reports. Lake Street Capital boosted their price target on shares of Backblaze from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Citigroup reaffirmed a “market outperform” rating on shares of Backblaze in a research note on Tuesday, February 24th. Loop Capital set a $8.00 price objective on shares of Backblaze in a report on Tuesday, February 24th. Needham & Company LLC lifted their price objective on shares of Backblaze from $6.00 to $8.50 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Backblaze in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Backblaze Price Performance

Shares of NASDAQ BLZE opened at $7.27 on Friday. Backblaze, Inc. has a fifty-two week low of $3.26 and a fifty-two week high of $10.86. The stock has a market cap of $436.93 million, a price-to-earnings ratio of -18.64 and a beta of 1.41. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day simple moving average is $4.34 and its 200 day simple moving average is $4.86.

Backblaze (NASDAQ:BLZE) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Backblaze had a negative net margin of 14.97% and a negative return on equity of 20.54%. The business had revenue of $38.67 million for the quarter, compared to analysts’ expectations of $37.78 million. As a group, research analysts anticipate that Backblaze, Inc. will post -0.33 earnings per share for the current fiscal year.

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. This service is offered as a consumption-based Infrastructure-as-a-Service (IaaS) and serves use cases, such as public, hybrid, and multi-cloud data storage; application development and DevOps; content delivery and edge computing; security and ransomware protection; media management; backup, archive, and tape replacement; repository for analytics, artificial intelligence and machine learning; and Internet of Things.