Norges Bank Purchases Shares of 129,500 Backblaze, Inc. (NASDAQ:BLZE)

Norges Bank acquired a new stake in shares of Backblaze, Inc. (NASDAQ:BLZE) in the 4th quarter, HoldingsChannel reports. The fund acquired 129,500 shares of the company’s stock, valued at approximately $780,000.

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Backblaze by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company’s stock worth $755,000 after purchasing an additional 5,098 shares during the period. Verition Fund Management LLC lifted its holdings in Backblaze by 15.4% in the third quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after buying an additional 2,106 shares during the period. State Street Corp lifted its holdings in Backblaze by 29.7% in the third quarter. State Street Corp now owns 606,313 shares of the company’s stock worth $3,874,000 after buying an additional 138,917 shares during the period. Jane Street Group LLC bought a new stake in Backblaze during the 3rd quarter valued at approximately $159,000. Finally, XTX Topco Ltd grew its holdings in shares of Backblaze by 108.1% during the 3rd quarter. XTX Topco Ltd now owns 72,520 shares of the company’s stock worth $463,000 after acquiring an additional 37,669 shares during the period. 54.03% of the stock is owned by institutional investors.

Backblaze Trading Up 1.1 %

Shares of NASDAQ BLZE opened at $4.56 on Friday. The company has a market cap of $247.61 million, a PE ratio of -4.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50 day moving average price is $5.81 and its 200-day moving average price is $6.34. Backblaze, Inc. has a 52-week low of $4.07 and a 52-week high of $10.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BLZE shares. Lake Street Capital dropped their price target on Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. B. Riley reduced their target price on shares of 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 began coverage on shares of Backblaze in a research report on Tuesday, March 11th. They set a “buy” rating and a $8.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Backblaze presently has an average rating of “Buy” and an average price target 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.