Backblaze, Inc. (NASDAQ:BLZE) Stock Holdings Lowered by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP lowered its position in shares of Backblaze, Inc. (NASDAQ:BLZE) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,189 shares of the company’s stock after selling 2,621 shares during the period. Occudo Quantitative Strategies LP’s holdings in Backblaze were worth $146,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BLZE. R Squared Ltd acquired a new position in Backblaze during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC increased its stake in Backblaze by 300.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company’s stock valued at $42,000 after buying an additional 5,293 shares during the period. Quantbot Technologies LP increased its stake in Backblaze by 60.6% during the 4th quarter. Quantbot Technologies LP now owns 11,648 shares of the company’s stock valued at $70,000 after buying an additional 4,393 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Backblaze by 15.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company’s stock valued at $89,000 after buying an additional 1,992 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in Backblaze during the 4th quarter valued at about $102,000. Institutional investors own 54.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC began coverage on shares of Backblaze in a research note on Tuesday, March 11th. They set a “buy” rating and a $8.00 target price on the stock. Lake Street Capital reduced their price objective on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, B. Riley reduced their price objective on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.83.

Backblaze Stock Performance

NASDAQ:BLZE opened at $5.41 on Friday. Backblaze, Inc. has a twelve month low of $3.94 and a twelve month high of $8.08. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $4.87 and a 200-day moving average of $5.97. The firm has a market cap of $293.76 million, a price-to-earnings ratio of -4.87 and a beta of 1.03.

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.