ClariVest Asset Management LLC Buys 2,154 Shares of Backblaze, Inc. (NASDAQ:BLZE)

ClariVest Asset Management LLC lifted its stake in Backblaze, Inc. (NASDAQ:BLZE) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,554 shares of the company’s stock after purchasing an additional 2,154 shares during the quarter. ClariVest Asset Management LLC owned about 0.18% of Backblaze worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Backblaze by 3,750.3% in the 2nd quarter. Rhumbline Advisers now owns 47,474 shares of the company’s stock valued at $292,000 after acquiring an additional 46,241 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Backblaze in the 2nd quarter valued at approximately $701,000. SG Americas Securities LLC lifted its position in Backblaze by 84.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock valued at $131,000 after acquiring an additional 9,720 shares in the last quarter. Lazard Asset Management LLC lifted its position in Backblaze by 165.7% in the 1st quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock valued at $185,000 after acquiring an additional 11,289 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Backblaze in the 1st quarter valued at approximately $643,000. 54.03% of the stock is owned by institutional investors.

Insider Transactions at Backblaze

In other news, Director Barbara H. Nelson sold 16,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.79, for a total value of $108,640.00. Following the completion of the sale, the director now directly owns 62,346 shares in the company, valued at approximately $423,329.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Barbara H. Nelson sold 16,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.79, for a total value of $108,640.00. Following the completion of the sale, the director now directly owns 62,346 shares in the company, valued at approximately $423,329.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Francis P. Patchel sold 13,107 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $6.55, for a total value of $85,850.85. Following the completion of the sale, the chief financial officer now owns 159,116 shares of the company’s stock, valued at $1,042,209.80. The disclosure for this sale can be found here. Insiders sold 47,483 shares of company stock worth $311,530 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLZE shares. Craig Hallum upped their price objective on Backblaze from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer lowered their price objective on Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th.

Backblaze Price Performance

NASDAQ BLZE opened at $5.92 on Friday. The business’s fifty day moving average price is $6.22 and its 200-day moving average price is $7.67. The stock has a market capitalization of $245.68 million, a price-to-earnings ratio of -4.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.61 and a quick ratio of 0.61. Backblaze, Inc. has a 1-year low of $4.80 and a 1-year high of $12.65.

Backblaze (NASDAQ:BLZE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The firm had revenue of $31.29 million for the quarter, compared to the consensus estimate of $30.93 million. Backblaze had a negative net margin of 42.34% and a negative return on equity of 104.71%. During the same period in the previous year, the company earned ($0.38) earnings per share. On average, equities analysts predict that Backblaze, Inc. will post -0.99 earnings per share for the current year.

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.