Quantbot Technologies LP Has $70,000 Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Quantbot Technologies LP lifted its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE) by 60.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,648 shares of the company’s stock after purchasing an additional 4,393 shares during the period. Quantbot Technologies LP’s holdings in Backblaze were worth $70,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BLZE. First Eagle Investment Management LLC boosted its holdings in shares of Backblaze by 4.5% during the 4th quarter. First Eagle Investment Management LLC now owns 1,160,390 shares of the company’s stock worth $6,986,000 after buying an additional 49,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Backblaze by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 864,562 shares of the company’s stock worth $5,525,000 after purchasing an additional 21,593 shares in the last quarter. State Street Corp grew its position in Backblaze by 29.7% in the 3rd quarter. State Street Corp now owns 606,313 shares of the company’s stock valued at $3,874,000 after purchasing an additional 138,917 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Backblaze by 50.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 510,395 shares of the company’s stock valued at $3,073,000 after purchasing an additional 170,513 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Backblaze during the 4th quarter valued at about $2,956,000. 54.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Backblaze Price Performance

Backblaze stock opened at $4.93 on Wednesday. Backblaze, Inc. has a 12 month low of $4.71 and a 12 month high of $10.52. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $6.45. The company has a market cap of $267.70 million, a price-to-earnings ratio of -4.44 and a beta of 0.89.

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.