Backblaze, Inc. $BLZE Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 6.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 269,559 shares of the company’s stock after selling 18,920 shares during the period. Los Angeles Capital Management LLC owned 0.49% of Backblaze worth $1,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AWM Investment Company Inc. raised its holdings in Backblaze by 9.4% in the 1st quarter. AWM Investment Company Inc. now owns 3,043,926 shares of the company’s stock valued at $14,702,000 after acquiring an additional 260,768 shares during the last quarter. Millennium Management LLC grew its position in shares of Backblaze by 32.5% in the first quarter. Millennium Management LLC now owns 825,422 shares of the company’s stock valued at $3,987,000 after purchasing an additional 202,609 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Backblaze by 36.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,519 shares of the company’s stock valued at $3,364,000 after purchasing an additional 186,124 shares during the period. D.A. Davidson & CO. acquired a new position in Backblaze in the second quarter valued at $986,000. Finally, AIGH Capital Management LLC lifted its position in Backblaze by 5.7% during the second quarter. AIGH Capital Management LLC now owns 1,809,096 shares of the company’s stock worth $9,950,000 after buying an additional 96,775 shares during the period. 54.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLZE has been the subject of several recent analyst reports. Needham & Company LLC lowered their price target on Backblaze from $12.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Backblaze in a report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Backblaze in a research note on Thursday, November 6th. Oppenheimer boosted their price objective on shares of Backblaze from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, JMP Securities upped their price objective on Backblaze from $7.00 to $8.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Backblaze Stock Up 0.4%

Shares of Backblaze stock opened at $5.63 on Wednesday. The company has a fifty day moving average price of $9.38 and a 200 day moving average price of $7.07. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.24. Backblaze, Inc. has a twelve month low of $3.94 and a twelve month high of $10.86. The stock has a market cap of $318.10 million, a price-to-earnings ratio of -6.33 and a beta of 1.24.

Backblaze (NASDAQ:BLZE) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $37.16 million for the quarter, compared to analyst estimates of $36.93 million. Backblaze had a negative return on equity of 54.88% and a negative net margin of 31.72%. Equities research analysts forecast that Backblaze, Inc. will post -1.02 earnings per share 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.