24,907 Shares in Backblaze, Inc. (NASDAQ:BLZE) Purchased by Jane Street Group LLC

Jane Street Group LLC acquired a new stake in shares of Backblaze, Inc. (NASDAQ:BLZE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,907 shares of the company’s stock, valued at approximately $159,000. Jane Street Group LLC owned approximately 0.06% of Backblaze as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in shares of Backblaze by 50.6% in the second quarter. First Eagle Investment Management LLC now owns 1,094,490 shares of the company’s stock worth $6,742,000 after buying an additional 367,500 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Backblaze in the third quarter worth $944,000. State Street Corp increased its position in Backblaze by 29.7% in the third quarter. State Street Corp now owns 606,313 shares of the company’s stock worth $3,874,000 after purchasing an additional 138,917 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Backblaze during the second quarter valued at $701,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Backblaze by 45.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 339,882 shares of the company’s stock valued at $2,172,000 after acquiring an additional 106,285 shares during the last quarter. 54.03% of the stock is currently owned by institutional investors.

Backblaze Price Performance

Shares of NASDAQ BLZE opened at $6.04 on Tuesday. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $12.65. The stock has a market capitalization of $268.18 million, a price-to-earnings ratio of -5.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.48.

Backblaze (NASDAQ:BLZE) last announced its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. The business had revenue of $32.59 million for the quarter, compared to analysts’ expectations of $32.54 million. During the same quarter last year, the business earned ($0.43) EPS. Analysts expect that Backblaze, Inc. will post -1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

BLZE has been the topic of a number of research analyst reports. Raymond James upped their price target on shares of Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Craig Hallum increased their price target on shares of Backblaze from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, October 21st.

Insider Activity

In other Backblaze news, VP Tina Cessna sold 8,874 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $56,971.08. Following the transaction, the vice president now owns 144,566 shares in the company, valued at approximately $928,113.72. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gleb Budman sold 10,321 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $66,260.82. Following the completion of the transaction, the chief executive officer now owns 1,864,646 shares in the company, valued at $11,971,027.32. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% 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.