Cerity Partners LLC Purchases 5,168 Shares of Backblaze, Inc. (NASDAQ:BLZE)

Cerity Partners LLC lifted its position in Backblaze, Inc. (NASDAQ:BLZE) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 105,238 shares of the company’s stock after purchasing an additional 5,168 shares during the quarter. Cerity Partners LLC owned 0.19% of Backblaze worth $508,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Backblaze by 300.9% in the 4th 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 last quarter. Summit Trail Advisors LLC bought a new stake in shares of Backblaze in the 1st quarter worth about $48,000. ProShare Advisors LLC bought a new stake in shares of Backblaze in the 4th quarter worth about $68,000. Quantbot Technologies LP grew its holdings in shares of Backblaze by 60.6% in the 4th 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 last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Backblaze by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock worth $89,000 after purchasing an additional 1,992 shares during the last quarter. Institutional investors own 54.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citizens Jmp assumed coverage on shares of Backblaze in a report on Tuesday, June 24th. They set a “strong-buy” rating and a $7.00 price objective on the stock. JMP Securities assumed coverage on shares of Backblaze in a report on Tuesday, June 24th. They set a “market outperform” rating and a $7.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $9.88.

Backblaze Stock Up 0.6%

Shares of NASDAQ:BLZE opened at $5.45 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Backblaze, Inc. has a 12 month low of $3.94 and a 12 month high of $8.08. The firm has a market cap of $299.21 million, a P/E ratio of -5.40 and a beta of 1.14. The company’s 50-day moving average price is $5.44 and its two-hundred day moving average price is $5.55.

About Backblaze

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.