SG Americas Securities LLC Has $86,000 Stake in Backblaze, Inc. (NASDAQ:BLZE)

SG Americas Securities LLC reduced its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 36.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,531 shares of the company’s stock after selling 7,752 shares during the period. SG Americas Securities LLC’s holdings in Backblaze were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BLZE. Acadian Asset Management LLC raised its holdings in shares of Backblaze by 117.0% in the first 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. Bank of New York Mellon Corp acquired a new position in shares of Backblaze during the 2nd quarter worth about $701,000. The Manufacturers Life Insurance Company bought a new position in shares of Backblaze in the 2nd quarter valued at about $102,000. Lazard Asset Management LLC increased its position in shares of Backblaze by 165.7% in the first quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock valued at $185,000 after acquiring an additional 11,289 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Backblaze during the first quarter worth about $643,000. 54.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BLZE shares. Craig Hallum raised their price target on Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Oppenheimer decreased their target price on shares of Backblaze from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Insider Buying and Selling

In other Backblaze news, Director Barbara H. Nelson sold 16,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.79, for a total value of $108,640.00. Following the transaction, the director now directly owns 62,346 shares of the company’s stock, valued at $423,329.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Francis P. Patchel sold 13,107 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $6.55, for a total value of $85,850.85. Following the completion of the sale, the chief financial officer now directly owns 159,116 shares in the company, valued at $1,042,209.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barbara H. Nelson sold 16,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.79, for a total value of $108,640.00. Following the transaction, the director now owns 62,346 shares in the company, valued at $423,329.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,483 shares of company stock valued at $311,530. Company insiders own 5.20% of the company’s stock.

Backblaze Price Performance

NASDAQ:BLZE opened at $7.26 on Tuesday. Backblaze, Inc. has a 12-month low of $4.91 and a 12-month high of $12.65. The firm has a market capitalization of $301.29 million, a price-to-earnings ratio of -5.11 and a beta of 1.02. The stock’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $6.77. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.34.

Backblaze (NASDAQ:BLZE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). Backblaze had a negative net margin of 42.34% and a negative return on equity of 104.71%. The business had revenue of $31.29 million during the quarter, compared to the consensus estimate of $30.93 million. During the same quarter last year, the company posted ($0.38) EPS. On average, analysts anticipate that Backblaze, Inc. will post -0.99 earnings per share for the current 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.