Connor Clark & Lunn Investment Management Ltd. grew its holdings in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 36.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 696,519 shares of the company's stock after acquiring an additional 186,124 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.28% of Backblaze worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. AWM Investment Company Inc. lifted its position in shares of Backblaze by 2,664.4% in the fourth quarter. AWM Investment Company Inc. now owns 2,783,158 shares of the company's stock valued at $16,755,000 after acquiring an additional 2,682,480 shares in the last quarter. Geode Capital Management LLC grew its stake in Backblaze by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 875,829 shares of the company's stock valued at $5,273,000 after acquiring an additional 11,267 shares in the last quarter. Millennium Management LLC grew its stake in Backblaze by 21.2% during the fourth quarter. Millennium Management LLC now owns 622,813 shares of the company's stock valued at $3,749,000 after acquiring an additional 108,884 shares in the last quarter. Renaissance Technologies LLC grew its stake in Backblaze by 40.7% during the fourth quarter. Renaissance Technologies LLC now owns 545,513 shares of the company's stock valued at $3,284,000 after acquiring an additional 157,897 shares in the last quarter. Finally, P.A.W. Capital Corp grew its stake in Backblaze by 25.0% during the first quarter. P.A.W. Capital Corp now owns 400,000 shares of the company's stock valued at $1,932,000 after acquiring an additional 80,000 shares in the last quarter. 54.03% of the stock is currently owned by hedge funds and other institutional investors.
Backblaze Trading Down 1.5%
BLZE stock traded down $0.12 during midday trading on Monday, reaching $7.57. 213,472 shares of the company traded hands, compared to its average volume of 457,111. Backblaze, Inc. has a 52-week low of $3.94 and a 52-week high of $8.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50 day moving average of $5.61 and a 200-day moving average of $5.55. The firm has a market capitalization of $427.42 million, a price-to-earnings ratio of -8.52 and a beta of 1.13.
Backblaze (NASDAQ:BLZE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. The company had revenue of $36.30 million for the quarter, compared to analysts' expectations of $35.41 million. As a group, sell-side analysts expect that Backblaze, Inc. will post -1.02 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on BLZE shares. JMP Securities boosted their target price on Backblaze from $7.00 to $8.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. Needham & Company LLC boosted their target price on Backblaze from $7.00 to $8.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Citizens Jmp started coverage on Backblaze in a research report on Tuesday, June 24th. They issued a "strong-buy" rating and a $7.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Backblaze has an average rating of "Buy" and an average target price of $10.07.
View Our Latest Research Report on Backblaze
Backblaze Profile
(
Free Report)
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.
Featured Stories
Before you consider Backblaze, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Backblaze wasn't on the list.
While Backblaze currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
