Cutler Group LLC CA Has $29,000 Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Cutler Group LLC CA increased its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 553.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,918 shares of the company’s stock after acquiring an additional 3,318 shares during the quarter. Cutler Group LLC CA’s holdings in Backblaze were worth $29,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its holdings in shares of Backblaze by 183.0% during the third quarter. Barclays PLC now owns 51,168 shares of the company’s stock valued at $281,000 after acquiring an additional 33,085 shares during the period. Acadian Asset Management LLC increased its stake in Backblaze by 34.5% in the 3rd quarter. Acadian Asset Management LLC now owns 291,546 shares of the company’s stock valued at $1,602,000 after buying an additional 74,813 shares during the period. Citigroup Inc. acquired a new position in Backblaze in the 3rd quarter valued at approximately $324,000. EAM Investors LLC acquired a new position in Backblaze in the 3rd quarter valued at approximately $1,389,000. Finally, First Eagle Investment Management LLC acquired a new position in Backblaze in the 3rd quarter valued at approximately $2,479,000. Institutional investors and hedge funds own 54.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BLZE. B. Riley upped their price objective on shares of Backblaze from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Raymond James upped their price objective on shares of Backblaze from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Oppenheimer upped their price objective on shares of Backblaze from $7.50 to $11.00 and gave the company an “outperform” rating in a research note on Friday, February 16th.

Backblaze Price Performance

Shares of Backblaze stock opened at $10.09 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.67 and a quick ratio of 0.67. Backblaze, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $12.65. The firm has a fifty day moving average price of $10.08 and a two-hundred day moving average price of $7.79. The company has a market cap of $415.71 million, a PE ratio of -6.12 and a beta of 1.20.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Backblaze had a negative net margin of 57.70% and a negative return on equity of 105.94%. The firm had revenue of $28.74 million during the quarter, compared to the consensus estimate of $28.18 million. Analysts expect that Backblaze, Inc. will post -1.12 EPS for the current year.

Insider Activity

In related news, CEO Gleb Budman sold 50,000 shares of Backblaze stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $10.66, for a total transaction of $533,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,698,715 shares of the company’s stock, valued at approximately $18,108,301.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Backblaze news, CEO Gleb Budman sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $10.66, for a total value of $533,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,698,715 shares of the company’s stock, valued at $18,108,301.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Tina Cessna sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $9.95, for a total transaction of $199,000.00. Following the completion of the transaction, the vice president now directly owns 121,083 shares of the company’s stock, valued at $1,204,775.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,429 shares of company stock worth $851,676. 27.14% of the stock is currently owned by corporate insiders.

Backblaze 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.