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

Bank of New York Mellon Corp boosted its stake in shares of Backblaze, Inc. (NASDAQ:BLZE) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,440 shares of the company’s stock after acquiring an additional 2,105 shares during the quarter. Bank of New York Mellon Corp’s holdings in Backblaze were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. P.A.W. Capital Corp purchased a new stake in shares of Backblaze during the fourth quarter worth approximately $1,926,000. Tempus Wealth Planning LLC increased its stake in Backblaze by 98.5% in the 4th quarter. Tempus Wealth Planning LLC now owns 48,860 shares of the company’s stock valued at $294,000 after buying an additional 24,240 shares during the period. Penbrook Management LLC purchased a new position in Backblaze during the 4th quarter worth $288,000. R Squared Ltd acquired a new stake in shares of Backblaze in the 4th quarter worth $38,000. Finally, SG Americas Securities LLC lifted its stake 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 acquiring an additional 6,322 shares during the period. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Backblaze Price Performance

Shares of NASDAQ BLZE opened at $5.20 on Friday. The business has a 50 day moving average price of $6.21 and a two-hundred day moving average price of $6.46. Backblaze, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $10.52. The firm has a market cap of $282.36 million, a PE ratio of -4.68 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39.

Analysts Set New Price Targets

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

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.