Backblaze, Inc. (NASDAQ:BLZE – Get Rating) major shareholder Kwok Hang Ng sold 2,000 shares of Backblaze stock in a transaction dated Friday, June 10th. The shares were sold at an average price of 5.46, for a total transaction of 10,920.00. Following the sale, the insider now owns 518,000 shares of the company’s stock, valued at approximately 2,828,280. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kwok Hang Ng also recently made the following trade(s):

• On Wednesday, June 8th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.13, for a total transaction of 12,260.00.
• On Thursday, June 2nd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.18, for a total transaction of 12,360.00.
• On Tuesday, May 31st, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.34, for a total transaction of 12,680.00.
• On Monday, May 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.75, for a total transaction of 11,500.00.
• On Friday, May 20th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.86, for a total transaction of 11,720.00.
• On Monday, May 16th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.22, for a total transaction of 12,440.00.
• On Thursday, May 12th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.03, for a total transaction of 12,060.00.
• On Tuesday, May 10th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 6.69, for a total transaction of 13,380.00.

NASDAQ:BLZE traded down 0.32 during trading hours on Friday, hitting 5.54. 145,000 shares of the company were exchanged, compared to its average volume of 134,279. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22. Backblaze, Inc. has a 52-week low of 5.25 and a 52-week high of 36.50. The company’s 50 day moving average price is 8.07 and its 200-day moving average price is 12.52.

Backblaze (NASDAQ:BLZE – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported -0.41 EPS for the quarter, missing the consensus estimate of -0.37 by -0.04. The business had revenue of 19.49 million for the quarter, compared to analyst estimates of 19.31 million. Analysts anticipate that Backblaze, Inc. will post -1.62 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Backblaze in the 4th quarter valued at $29,000. Royal Bank of Canada lifted its stake in shares of Backblaze by 275.9% in the 1st quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares during the period. ETF Managers Group LLC acquired a new position in shares of Backblaze in the 4th quarter valued at $42,000. Goldman Sachs Group Inc. acquired a new position in shares of Backblaze in the 1st quarter valued at $117,000. Finally, Blair William & Co. IL acquired a new position in shares of Backblaze in the 1st quarter valued at $140,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

BLZE has been the topic of a number of analyst reports. B. Riley cut their price objective on shares of Backblaze from $23.00 to $16.50 in a research report on Friday, May 6th. Lake Street Capital cut their price objective on shares of Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. Zacks Investment Research downgraded shares of Backblaze from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Raymond James cut their price objective on shares of Backblaze from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of 20.38.

Backblaze Company Profile (Get Rating)

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.

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