Lazard Asset Management LLC Has $90,000 Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Lazard Asset Management LLC cut its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE) by 77.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,995 shares of the company’s stock after selling 50,799 shares during the period. Lazard Asset Management LLC’s holdings in Backblaze were worth $90,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Backblaze by 241.8% in the third quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company’s stock worth $801,000 after purchasing an additional 88,652 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Backblaze by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock valued at $120,000 after buying an additional 6,322 shares during the last quarter. R Squared Ltd acquired a new position in Backblaze during the 4th quarter worth about $38,000. Penbrook Management LLC acquired a new position in Backblaze during the 4th quarter worth about $288,000. Finally, Tempus Wealth Planning LLC grew its holdings in Backblaze by 98.5% during the 4th quarter. Tempus Wealth Planning LLC now owns 48,860 shares of the company’s stock worth $294,000 after acquiring an additional 24,240 shares during the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Stock Down 5.9%

Shares of NASDAQ:BLZE opened at $5.63 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $309.09 million, a price-to-earnings ratio of -5.07 and a beta of 1.03. The company has a 50 day moving average of $4.90 and a 200-day moving average of $5.89. Backblaze, Inc. has a one year low of $3.94 and a one year high of $8.08.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLZE shares. Lake Street Capital dropped their target price on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC began coverage on shares of Backblaze in a research report on Tuesday, March 11th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, B. Riley reduced their price objective on Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Backblaze presently has an average rating of “Buy” and a consensus price target of $10.83.

Backblaze Company 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.