320,000 Shares in Backblaze, Inc. (NASDAQ:BLZE) Purchased by P.A.W. Capital Corp

P.A.W. Capital Corp acquired a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 320,000 shares of the company’s stock, valued at approximately $1,926,000. Backblaze makes up about 3.7% of P.A.W. Capital Corp’s holdings, making the stock its 10th biggest holding.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Backblaze during the fourth quarter worth about $38,000. Verition Fund Management LLC increased its stake in shares of Backblaze by 15.4% in the third 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 stake in shares of Backblaze by 46.7% in the fourth 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 stake in shares of Backblaze by 129.1% in the third 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 purchased a new position in shares of Backblaze in the third quarter worth about $159,000. Hedge funds and other institutional investors own 54.03% of the company’s stock.

Backblaze Price Performance

Shares of NASDAQ:BLZE opened at $7.21 on Friday. Backblaze, Inc. has a 12 month low of $4.91 and a 12 month high of $12.65. 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 stock has a market cap of $320.12 million, a P/E ratio of -6.50 and a beta of 0.92. The company has a 50 day moving average of $6.51 and a 200 day moving average of $6.55.

Insider Buying and Selling at Backblaze

In other Backblaze news, VP Tina Cessna sold 8,874 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the transaction, the vice president now directly owns 144,566 shares of the company’s stock, valued at $928,113.72. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gleb Budman sold 10,321 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were 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 directly owns 1,864,646 shares of the company’s stock, valued at approximately $11,971,027.32. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLZE. Raymond James lifted their target price on shares of Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley reduced their target price 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.

About Backblaze

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.