Penbrook Management LLC Makes New Investment in Backblaze, Inc. (NASDAQ:BLZE)

Penbrook Management LLC bought a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 47,875 shares of the company’s stock, valued at approximately $288,000.

A number of other large investors also recently modified their holdings of the business. R Squared Ltd acquired a new stake in Backblaze during the fourth quarter worth about $38,000. SG Americas Securities LLC grew its holdings in shares of Backblaze by 46.7% during the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock valued at $120,000 after purchasing an additional 6,322 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Backblaze by 241.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 125,320 shares of the company’s stock worth $801,000 after purchasing an additional 88,652 shares during the period. Barclays PLC raised its position in shares of Backblaze by 124.4% during the 3rd quarter. Barclays PLC now owns 78,205 shares of the company’s stock worth $500,000 after purchasing an additional 43,354 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Backblaze by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 864,562 shares of the company’s stock worth $5,525,000 after purchasing an additional 21,593 shares during the last quarter. 54.03% of the stock is currently owned by institutional investors.

Backblaze Stock Down 1.0 %

Shares of Backblaze stock opened at $6.22 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. Backblaze, Inc. has a 1-year low of $4.91 and a 1-year high of $12.65. The business’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $6.48. The company has a market capitalization of $276.17 million, a P/E ratio of -5.60 and a beta of 0.92.

Backblaze (NASDAQ:BLZE) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). The company had revenue of $32.59 million for the quarter, compared to the consensus estimate of $32.54 million. Backblaze had a negative net margin of 37.13% and a negative return on equity of 100.67%. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. As a group, research analysts forecast that Backblaze, Inc. will post -1.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLZE shares. Craig Hallum upped their price objective on Backblaze from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Raymond James increased their price objective on shares of Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

Insider Transactions at Backblaze

In related news, CEO Gleb Budman sold 10,321 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total transaction of $66,260.82. Following the completion of the transaction, the chief executive officer now owns 1,864,646 shares of the company’s stock, valued at $11,971,027.32. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Tina Cessna sold 8,874 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $6.42, for a total transaction of $56,971.08. Following the completion of the sale, the vice president now owns 144,566 shares in the company, valued at approximately $928,113.72. This trade represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

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.