Cubist Systematic Strategies LLC Grows Stock Holdings in Backblaze, Inc. (NASDAQ:BLZE)

Cubist Systematic Strategies LLC increased its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 129.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,882 shares of the company's stock after buying an additional 104,970 shares during the quarter. Cubist Systematic Strategies LLC owned 0.42% of Backblaze worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Backblaze in the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC raised its holdings in shares of Backblaze by 300.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company's stock valued at $42,000 after acquiring an additional 5,293 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Backblaze by 60.6% during the fourth quarter. Quantbot Technologies LP now owns 11,648 shares of the company's stock valued at $70,000 after acquiring an additional 4,393 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Backblaze by 15.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company's stock valued at $89,000 after acquiring an additional 1,992 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Backblaze in the fourth quarter valued at approximately $102,000. 54.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLZE has been the subject of several recent research reports. Lake Street Capital cut their price target on Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. B. Riley cut their price target on Backblaze from $11.50 to $11.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, Needham & Company LLC started coverage on Backblaze in a research report on Tuesday, March 11th. They issued a "buy" rating and a $8.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $10.83.

Backblaze Trading Up 1.7%

Backblaze stock traded up $0.09 during mid-day trading on Friday, hitting $5.41. The company's stock had a trading volume of 319,630 shares, compared to its average volume of 387,994. The firm has a market capitalization of $293.76 million, a PE ratio of -4.87 and a beta of 1.03. Backblaze, Inc. has a 1 year low of $3.94 and a 1 year 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 stock's fifty day moving average is $4.87 and its two-hundred day moving average is $5.98.

Backblaze 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.