Jane Street Group LLC Buys Shares of 24,907 Backblaze, Inc. (NASDAQ:BLZE)

Jane Street Group LLC bought a new stake in Backblaze, Inc. (NASDAQ:BLZE) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 24,907 shares of the company’s stock, valued at approximately $159,000.

Several other institutional investors also recently bought and sold shares of BLZE. Bank of New York Mellon Corp acquired a new position in Backblaze in the 2nd quarter valued at about $701,000. Rhumbline Advisers grew 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. First Eagle Investment Management LLC grew its position in Backblaze by 50.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,094,490 shares of the company’s stock valued at $6,742,000 after acquiring an additional 367,500 shares in the last quarter. XTX Topco Ltd grew its position in Backblaze by 90.7% in the 2nd quarter. XTX Topco Ltd now owns 34,851 shares of the company’s stock valued at $215,000 after acquiring an additional 16,577 shares in the last quarter. Finally, Scalar Gauge Management LLC grew its position in Backblaze by 6.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 250,887 shares of the company’s stock valued at $1,545,000 after acquiring an additional 15,000 shares in the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Craig Hallum lifted their price objective on Backblaze from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Raymond James lifted their price objective on Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Backblaze Stock Performance

Shares of BLZE opened at $6.04 on Tuesday. The stock has a 50-day simple moving average of $6.62 and a 200-day simple moving average of $6.48. 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 stock has a market capitalization of $268.18 million, a PE ratio of -5.44 and a beta of 0.92. Backblaze, Inc. has a 1 year low of $4.91 and a 1 year high of $12.65.

Backblaze (NASDAQ:BLZE) last posted its earnings results on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The business had revenue of $32.59 million for the quarter, compared to analysts’ expectations of $32.54 million. Backblaze had a negative return on equity of 100.67% and a negative net margin of 37.13%. During the same quarter in the previous year, the firm earned ($0.43) EPS. On average, analysts predict that Backblaze, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Backblaze news, CEO Gleb Budman sold 10,321 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total value of $66,260.82. Following the completion of the sale, the chief executive officer now owns 1,864,646 shares in the company, valued at approximately $11,971,027.32. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Tina Cessna sold 8,874 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the sale, the vice president now owns 144,566 shares of the company’s stock, valued at approximately $928,113.72. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

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.