Insider Selling: Backblaze, Inc. (NASDAQ:BLZE) VP Sells $14,931.00 in Stock

Backblaze, Inc. (NASDAQ:BLZE) VP Tina Cessna sold 2,212 shares of Backblaze stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $6.75, for a total transaction of $14,931.00. Following the transaction, the vice president now directly owns 118,871 shares of the company’s stock, valued at $802,379.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 stock was 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 transaction of $20,949.36.

Backblaze Stock Down 1.6 %

Shares of NASDAQ:BLZE opened at $6.67 on Friday. Backblaze, Inc. has a one year low of $3.50 and a one year high of $12.65. The company has a 50 day moving average of $9.10 and a 200-day moving average of $8.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $276.81 million, a price-to-earnings ratio of -4.70 and a beta of 1.21.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLZE. Oppenheimer boosted their target price 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 boosted their target price on shares of Backblaze from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, B. Riley boosted their target price on shares of Backblaze from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 9th.

Institutional Investors Weigh In On Backblaze

Several institutional investors have recently modified their holdings of BLZE. Cutler Group LLC CA grew its holdings in Backblaze by 553.0% during the fourth quarter. Cutler Group LLC CA now owns 3,918 shares of the company’s stock valued at $29,000 after purchasing an additional 3,318 shares during the period. AJOVista LLC acquired a new position in Backblaze during the fourth quarter valued at approximately $67,000. Dynamic Technology Lab Private Ltd acquired a new position in Backblaze during the fourth quarter valued at approximately $76,000. Tower Research Capital LLC TRC acquired a new position in Backblaze during the fourth quarter valued at approximately $86,000. Finally, Jump Financial LLC acquired a new position in Backblaze during the third quarter valued at approximately $121,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

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.