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

Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $7.13, for a total transaction of $14,260.00. Following the transaction, the insider now directly owns 214,000 shares of the company’s stock, valued at $1,525,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Monday, January 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.71, for a total transaction of $15,420.00.
  • On Tuesday, January 17th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.57, for a total transaction of $15,140.00.
  • On Friday, January 13th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.75, for a total transaction of $15,500.00.
  • On Monday, January 9th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.39, for a total transaction of $14,780.00.
  • On Thursday, January 5th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.88, for a total transaction of $13,760.00.
  • On Tuesday, January 3rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.14, for a total transaction of $12,280.00.
  • On Thursday, December 29th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.62, for a total transaction of $11,240.00.
  • On Tuesday, December 27th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.43, for a total transaction of $10,860.00.
  • On Friday, December 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.57, for a total transaction of $11,140.00.
  • On Monday, December 12th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $4.82, for a total transaction of $9,640.00.

Backblaze Price Performance

BLZE stock opened at $7.71 on Tuesday. Backblaze, Inc. has a one year low of $3.82 and a one year high of $15.89. The company’s fifty day moving average price is $5.58 and its 200-day moving average price is $5.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $251.35 million, a PE ratio of -4.94 and a beta of 0.20.

Backblaze (NASDAQ:BLZEGet Rating) last released its earnings results on Wednesday, November 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Backblaze had a negative return on equity of 54.31% and a negative net margin of 57.47%. The company had revenue of $22.05 million during the quarter, compared to analysts’ expectations of $21.95 million. On average, equities analysts anticipate that Backblaze, Inc. will post -1.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLZE. Oppenheimer dropped their price target on shares of Backblaze to $8.50 in a research report on Tuesday, November 15th. Raymond James dropped their price target on shares of Backblaze from $14.50 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Finally, B. Riley lowered their target price on shares of Backblaze from $11.00 to $8.50 in a report on Thursday, November 10th.

Institutional Investors Weigh In On Backblaze

A number of hedge funds have recently bought and sold shares of BLZE. Royal Bank of Canada raised its stake in Backblaze by 275.9% during the first quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares in the last quarter. UMB Bank n.a. purchased a new stake in Backblaze during the fourth quarter valued at $49,000. Trexquant Investment LP purchased a new stake in Backblaze during the second quarter valued at $65,000. Goldman Sachs Group Inc. purchased a new stake in Backblaze during the first quarter valued at $117,000. Finally, Blair William & Co. IL purchased a new stake in Backblaze during the first quarter valued at $140,000. Hedge funds and other institutional investors own 12.70% of the company’s stock.

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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