Tempus Wealth Planning LLC Invests $157,000 in Backblaze, Inc. (NASDAQ:BLZE)

Tempus Wealth Planning LLC purchased a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 24,620 shares of the company’s stock, valued at approximately $157,000.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Backblaze during the 2nd quarter worth approximately $102,000. SG Americas Securities LLC boosted its stake in shares of Backblaze by 84.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock worth $131,000 after acquiring an additional 9,720 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Backblaze during the 1st quarter worth approximately $154,000. Lazard Asset Management LLC boosted its stake in shares of Backblaze by 165.7% during the 1st quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock worth $185,000 after acquiring an additional 11,289 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Backblaze by 90.7% in the 2nd quarter. XTX Topco Ltd now owns 34,851 shares of the company’s stock valued at $215,000 after buying an additional 16,577 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Analyst Ratings Changes

BLZE has been the topic of a number of recent research reports. Craig Hallum upped their target price on Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer reduced their target price on Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th.

Backblaze Trading Down 2.0 %

Shares of Backblaze stock opened at $7.24 on Thursday. Backblaze, Inc. has a fifty-two week low of $4.83 and a fifty-two week high of $12.65. The firm has a market cap of $300.46 million, a PE ratio of -5.10 and a beta of 1.02. The business’s fifty day moving average is $6.41 and its two-hundred day moving average is $6.83. 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 issued 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 return on equity of 104.71% and a negative net margin of 42.34%. The business had revenue of $31.29 million for the quarter, compared to analysts’ expectations of $30.93 million. During the same period in the prior year, the company earned ($0.38) EPS. Analysts anticipate that Backblaze, Inc. will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Backblaze news, 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 transaction of $108,640.00. Following the transaction, the director now owns 62,346 shares of the company’s stock, valued at $423,329.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Barbara H. Nelson sold 16,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.79, for a total transaction of $108,640.00. Following the completion of the sale, the director now directly owns 62,346 shares in the company, valued at $423,329.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Francis P. Patchel sold 13,107 shares of the company’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 sale, the chief financial officer now owns 159,116 shares of the company’s stock, valued at approximately $1,042,209.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,483 shares of company stock valued at $311,530 in the last quarter. 5.20% of the stock is currently owned by company insiders.

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.