ProShare Advisors LLC Acquires New Holdings in Backblaze, Inc. (NASDAQ:BLZE)

ProShare Advisors LLC acquired a new stake in Backblaze, Inc. (NASDAQ:BLZE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,241 shares of the company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Backblaze by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock valued at $89,000 after buying an additional 1,992 shares during the period. Bank of New York Mellon Corp raised its holdings in Backblaze by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company’s stock valued at $508,000 after buying an additional 2,105 shares during the period. EntryPoint Capital LLC increased its stake in Backblaze by 20.8% during the fourth quarter. EntryPoint Capital LLC now owns 23,558 shares of the company’s stock worth $142,000 after purchasing an additional 4,054 shares during the period. Quantbot Technologies LP increased its stake in Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock worth $70,000 after purchasing an additional 4,393 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Backblaze by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock worth $42,000 after purchasing an additional 5,293 shares during the period. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Backblaze Stock Performance

Shares of Backblaze stock opened at $5.92 on Wednesday. Backblaze, Inc. has a one year low of $3.94 and a one year high of $8.08. The company has a market cap of $325.01 million, a PE ratio of -5.33 and a beta of 1.03. 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 business has a 50-day simple moving average of $4.95 and a 200-day simple moving average of $5.85.

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.