Backblaze, Inc. (NASDAQ:BLZE) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,440 shares of the company’s stock after purchasing an additional 2,105 shares during the period. Bank of New York Mellon Corp owned about 0.19% of Backblaze worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLZE. R Squared Ltd acquired a new stake in Backblaze in the fourth quarter valued at $38,000. Verition Fund Management LLC raised its position in shares of Backblaze by 15.4% during the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after acquiring an additional 2,106 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Backblaze by 46.7% during the 4th quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock worth $120,000 after acquiring an additional 6,322 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Backblaze by 129.1% during the third quarter. MetLife Investment Management LLC now owns 24,275 shares of the company’s stock worth $155,000 after purchasing an additional 13,678 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Backblaze in the third quarter valued at approximately $159,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Backblaze Stock Performance

Shares of Backblaze stock opened at $5.20 on Friday. The firm’s fifty day simple moving average is $6.21 and its 200-day simple moving average is $6.46. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $10.52. The stock has a market capitalization of $282.36 million, a price-to-earnings ratio of -4.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54.

Analysts Set New Price Targets

A number of analysts have weighed in on BLZE shares. B. Riley cut their price objective on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Lake Street Capital dropped their target price on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Needham & Company LLC started coverage on shares of Backblaze in a research report on Tuesday, March 11th. They issued a “buy” rating and a $8.00 price target for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Backblaze presently has an average rating of “Buy” and a consensus price target of $10.83.

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.