Kwok Hang Ng Sells 2,000 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of 5.22, for a total value of 10,440.00. Following the completion of the transaction, the insider now directly owns 470,000 shares in the company, valued at approximately 2,453,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kwok Hang Ng also recently made the following trade(s):

  • On Friday, July 15th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 4.96, for a total value of 9,920.00.
  • On Thursday, June 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.11, for a total value of 10,220.00.
  • On Tuesday, June 21st, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.29, for a total value of 10,580.00.
  • On Friday, June 17th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.02, for a total value of 10,040.00.
  • On Friday, June 10th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.46, for a total value of 10,920.00.
  • On Wednesday, June 8th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 6.13, for a total value of 12,260.00.
  • On Thursday, June 2nd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 6.18, for a total value of 12,360.00.
  • On Tuesday, May 31st, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 6.34, for a total value of 12,680.00.
  • On Monday, May 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.75, for a total value of 11,500.00.
  • On Friday, May 20th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 5.86, for a total value of 11,720.00.

Backblaze Stock Up 4.8 %

Shares of Backblaze stock opened at 5.25 on Tuesday. Backblaze, Inc. has a 1 year low of 4.85 and a 1 year high of 36.50. The business has a 50-day moving average of 5.60 and a two-hundred day moving average of 9.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.

Backblaze (NASDAQ:BLZEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported -0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of -0.37 by -0.04. The business had revenue of 19.49 million during the quarter, compared to the consensus estimate of 19.31 million. Analysts anticipate that Backblaze, Inc. will post -1.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLZE shares. Lake Street Capital dropped their target price on Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. B. Riley dropped their price objective on Backblaze from $23.00 to $16.50 in a report on Friday, May 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Backblaze currently has an average rating of “Buy” and an average price target of 20.38.

Institutional Investors Weigh In On Backblaze

Several large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Backblaze by 12.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,150,568 shares of the company’s stock worth $12,277,000 after acquiring an additional 124,001 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Backblaze by 269.7% during the first quarter. Vanguard Group Inc. now owns 412,992 shares of the company’s stock worth $4,407,000 after buying an additional 301,271 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in shares of Backblaze during the fourth quarter worth about $3,374,000. BlackRock Inc. grew its holdings in shares of Backblaze by 7.9% during the first quarter. BlackRock Inc. now owns 116,228 shares of the company’s stock worth $1,239,000 after buying an additional 8,536 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Backblaze during the fourth quarter worth about $1,421,000. 12.85% of the stock is currently owned by institutional investors.

About Backblaze

(Get Rating)

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.

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