JPMorgan Chase & Co. Has $1.62 Million Stock Position in Backblaze, Inc. (NASDAQ:BLZE)

JPMorgan Chase & Co. raised its stake in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 114.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 269,074 shares of the company's stock after acquiring an additional 143,754 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Backblaze worth $1,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Backblaze during the 4th quarter valued at $38,000. Quantbot Technologies LP raised its stake in Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock worth $70,000 after acquiring an additional 4,393 shares in the last quarter. Intech Investment Management LLC acquired a new position in Backblaze during the fourth quarter worth about $114,000. Virtu Financial LLC bought a new position in shares of Backblaze in the fourth quarter worth about $117,000. Finally, SG Americas Securities LLC boosted its stake in shares of Backblaze by 46.7% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 54.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. B. Riley dropped 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. Needham & Company LLC started coverage on Backblaze in a report on Tuesday, March 11th. They set a "buy" rating and a $8.00 price objective on the stock. Finally, Lake Street Capital lowered their target price on Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Backblaze currently has an average rating of "Buy" and an average price target of $10.83.

Backblaze Trading Up 2.0 %

Shares of BLZE traded up $0.09 during trading hours on Thursday, hitting $4.49. 16,958 shares of the stock were exchanged, compared to its average volume of 391,372. Backblaze, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.00. The business has a 50-day moving average of $5.12 and a 200-day moving average of $6.16. The firm has a market capitalization of $243.81 million, a P/E ratio of -4.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54.

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.