Charles Schwab Investment Management Inc. Has $628,000 Stake in Backblaze, Inc. $BLZE

Charles Schwab Investment Management Inc. raised its stake in shares of Backblaze, Inc. (NASDAQ:BLZE) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,996 shares of the company’s stock after purchasing an additional 11,647 shares during the period. Charles Schwab Investment Management Inc. owned 0.24% of Backblaze worth $628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLZE. Wells Fargo & Company MN grew its holdings in Backblaze by 28.5% during the fourth quarter. Wells Fargo & Company MN now owns 28,684 shares of the company’s stock valued at $173,000 after purchasing an additional 6,357 shares during the last quarter. Barclays PLC boosted its position in shares of Backblaze by 9.1% in the fourth quarter. Barclays PLC now owns 85,288 shares of the company’s stock valued at $513,000 after acquiring an additional 7,083 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Backblaze by 300.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock valued at $42,000 after acquiring an additional 5,293 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Backblaze by 15.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock valued at $89,000 after acquiring an additional 1,992 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Backblaze by 21.5% in the fourth quarter. Northern Trust Corp now owns 380,538 shares of the company’s stock valued at $2,291,000 after acquiring an additional 67,281 shares during the period. Institutional investors and hedge funds own 54.03% of the company’s stock.

Backblaze Trading Down 1.9%

BLZE stock opened at $8.19 on Wednesday. The business has a fifty day moving average price of $6.28 and a 200 day moving average price of $5.66. Backblaze, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $8.65. The stock has a market capitalization of $462.74 million, a price-to-earnings ratio of -9.20 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.08 and a quick ratio of 1.08.

Backblaze (NASDAQ:BLZE) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. The business had revenue of $36.30 million during the quarter, compared to the consensus estimate of $35.41 million. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Backblaze, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLZE. Needham & Company LLC increased their price objective on Backblaze from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. JMP Securities increased their price objective on Backblaze from $7.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Finally, Citizens Jmp assumed coverage on Backblaze in a research report on Tuesday, June 24th. They issued a “strong-buy” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.07.

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.