Kwok Hang Ng Sells 2,000 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock

Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $7.13, for a total transaction of $14,260.00. Following the completion of the sale, the insider now directly owns 214,000 shares in the company, valued at $1,525,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 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 Monday, January 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $7.71, for a total transaction of $15,420.00.
  • On Tuesday, January 17th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $7.57, for a total transaction of $15,140.00.
  • On Friday, January 13th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.75, for a total transaction of $15,500.00.
  • On Monday, January 9th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $7.39, for a total transaction of $14,780.00.
  • On Thursday, January 5th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.88, for a total transaction of $13,760.00.
  • On Tuesday, January 3rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $6.14, for a total transaction of $12,280.00.
  • On Thursday, December 29th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of $5.62, for a total transaction of $11,240.00.
  • On Tuesday, December 27th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.43, for a total transaction of $10,860.00.
  • On Friday, December 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $5.57, for a total transaction of $11,140.00.
  • On Monday, December 12th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of $4.82, for a total transaction of $9,640.00.

Backblaze Stock Up 2.1 %

Shares of NASDAQ:BLZE traded up $0.16 during midday trading on Monday, reaching $7.71. The company had a trading volume of 88,369 shares, compared to its average volume of 102,813. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s fifty day moving average price is $5.58 and its 200-day moving average price is $5.60. The stock has a market capitalization of $251.35 million, a P/E ratio of -4.94 and a beta of 0.20. Backblaze, Inc. has a one year low of $3.82 and a one year high of $15.89.

Backblaze (NASDAQ:BLZEGet Rating) last released its earnings results on Wednesday, November 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Backblaze had a negative net margin of 57.47% and a negative return on equity of 54.31%. The business had revenue of $22.05 million for the quarter, compared to the consensus estimate of $21.95 million. Equities research analysts expect that Backblaze, Inc. will post -1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLZE. Oppenheimer reduced their target price on shares of Backblaze to $8.50 in a research report on Tuesday, November 15th. B. Riley reduced their target price on shares of Backblaze from $11.00 to $8.50 in a research report on Thursday, November 10th. Finally, Raymond James dropped their price target on shares of Backblaze from $14.50 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th.

Institutional Trading of Backblaze

Several institutional investors have recently added to or reduced their stakes in BLZE. Vanguard Group Inc. increased its stake in Backblaze by 269.7% during the first quarter. Vanguard Group Inc. now owns 412,992 shares of the company’s stock valued at $4,407,000 after purchasing an additional 301,271 shares during the last quarter. AWM Investment Company Inc. increased its stake in Backblaze by 42.0% during the second quarter. AWM Investment Company Inc. now owns 556,783 shares of the company’s stock valued at $2,912,000 after purchasing an additional 164,783 shares during the last quarter. Perkins Capital Management Inc. bought a new position in shares of Backblaze during the third quarter worth about $366,000. Renaissance Technologies LLC bought a new position in shares of Backblaze during the first quarter worth about $620,000. Finally, State Street Corp bought a new position in shares of Backblaze during the first quarter worth about $261,000. Institutional investors own 12.70% of the company’s stock.

About Backblaze

(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.

See Also

Insider Buying and Selling by Quarter for Backblaze (NASDAQ:BLZE)

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