Thompson Siegel & Walmsley LLC Makes New Investment in Backblaze, Inc. (NASDAQ:BLZE)

Thompson Siegel & Walmsley LLC bought a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 491,000 shares of the company’s stock, valued at approximately $2,956,000. Thompson Siegel & Walmsley LLC owned approximately 1.11% of Backblaze at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Backblaze during the 4th quarter worth about $38,000. Verition Fund Management LLC increased its holdings in Backblaze by 15.4% during the 3rd quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after purchasing an additional 2,106 shares in the last quarter. SG Americas Securities LLC increased its holdings in Backblaze by 46.7% during the 4th quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock worth $120,000 after purchasing an additional 6,322 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Backblaze by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 24,275 shares of the company’s stock worth $155,000 after purchasing an additional 13,678 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Backblaze during the 3rd quarter worth about $159,000. Institutional investors own 54.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BLZE shares. Needham & Company LLC started coverage on shares of Backblaze in a research note on Tuesday. They set a “buy” rating and a $8.00 price objective for the company. 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 note on Tuesday, February 18th. Finally, 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 note on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $10.83.

Backblaze Trading Down 4.6 %

Shares of NASDAQ:BLZE opened at $4.98 on Friday. Backblaze, Inc. has a 52-week low of $4.91 and a 52-week high of $11.00. The company has a market capitalization of $221.11 million, a P/E ratio of -4.49 and a beta of 0.89. The company has a 50-day simple moving average of $6.41 and a 200 day simple moving average of $6.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54.

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.