Jump Financial LLC Sells 19,312 Shares of Backblaze, Inc. (NASDAQ:BLZE)

Jump Financial LLC reduced its holdings in Backblaze, Inc. (NASDAQ:BLZE) by 55.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,688 shares of the company’s stock after selling 19,312 shares during the period. Jump Financial LLC’s holdings in Backblaze were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Backblaze by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company’s stock valued at $508,000 after purchasing an additional 2,105 shares during the period. EntryPoint Capital LLC increased its position in shares of Backblaze by 20.8% during the fourth quarter. EntryPoint Capital LLC now owns 23,558 shares of the company’s stock valued at $142,000 after purchasing an additional 4,054 shares during the period. Quantbot Technologies LP increased its position in shares of Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock valued at $70,000 after purchasing an additional 4,393 shares during the period. R Squared Ltd bought a new stake in shares of Backblaze during the fourth quarter valued at approximately $38,000. Finally, SG Americas Securities LLC increased its position 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 period. 54.03% of the stock is owned by institutional investors.

Backblaze Trading Down 1.1 %

Shares of BLZE opened at $4.46 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. Backblaze, Inc. has a 12-month low of $3.94 and a 12-month high of $10.00. The firm has a market capitalization of $242.18 million, a PE ratio of -4.02 and a beta of 1.02. The stock’s fifty day simple moving average is $5.24 and its 200-day simple moving average is $6.19.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BLZE. Needham & Company LLC began coverage on Backblaze in a research report on Tuesday, March 11th. They issued a “buy” rating and a $8.00 price target on the stock. B. Riley lowered their price target on Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, Lake Street Capital lowered their price target on Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $10.83.

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.