Backblaze, Inc. (NASDAQ:BLZE) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Backblaze, Inc. (NASDAQ:BLZE) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,298 shares of the company’s stock after acquiring an additional 89,501 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.53% of Backblaze worth $1,429,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Backblaze by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company’s stock valued at $508,000 after acquiring an additional 2,105 shares during the period. P.A.W. Capital Corp acquired a new position in Backblaze in the fourth quarter valued at approximately $1,926,000. Tempus Wealth Planning LLC raised its stake in shares of Backblaze by 98.5% during the 4th quarter. Tempus Wealth Planning LLC now owns 48,860 shares of the company’s stock worth $294,000 after buying an additional 24,240 shares during the period. Penbrook Management LLC acquired a new position in shares of Backblaze during the 4th quarter worth approximately $288,000. Finally, R Squared Ltd acquired a new position in shares of Backblaze during the 4th quarter worth approximately $38,000. 54.03% of the stock is owned by institutional investors and hedge funds.

Backblaze Stock Performance

Shares of Backblaze stock opened at $6.54 on Friday. The business has a 50-day moving average of $6.52 and a 200 day moving average of $6.57. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $12.65. The stock has a market capitalization of $290.38 million, a price-to-earnings ratio of -5.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. B. Riley reduced their target price on Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Raymond James upped their target price on Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Lake Street Capital reduced their target price on Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.40.

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.