Virtu Financial LLC Buys New Stake in Backblaze, Inc. (NASDAQ:BLZE)

Virtu Financial LLC purchased a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,463 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Backblaze during the 4th quarter worth approximately $38,000. Verition Fund Management LLC lifted its holdings in shares of Backblaze by 15.4% during the third quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock valued at $101,000 after acquiring an additional 2,106 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Backblaze in the 4th quarter valued at $114,000. SG Americas Securities LLC grew its holdings in shares of Backblaze by 46.7% in the 4th quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock worth $120,000 after purchasing an additional 6,322 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Backblaze by 129.1% during the 3rd 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 in the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Stock Performance

BLZE stock opened at $4.97 on Monday. The company has a 50 day moving average price of $6.19 and a 200 day moving average price of $6.47. Backblaze, Inc. has a fifty-two week low of $4.90 and a fifty-two week high of $10.52. 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 stock has a market capitalization of $269.87 million, a PE ratio of -4.48 and a beta of 0.89.

Analyst Ratings Changes

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

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.