EntryPoint Capital LLC Raises Position in Backblaze, Inc. $BLZE

Key Points

• EntryPoint Capital LLC increased its holdings in Backblaze, Inc. by 214.1%, owning a total of 73,996 shares valued at $357,000 as of its latest SEC filing.
• Multiple large investors, including Price T Rowe Associates and Bank of New York Mellon Corp, have also raised their stakes in Backblaze, indicating strong institutional interest.
• Backblaze reported a loss of $0.12 per share in its latest earnings release, which was below analysts' expectations, despite revenue surpassing estimates at $36.30 million.

EntryPoint Capital LLC increased its holdings in Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 214.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,996 shares of the company's stock after purchasing an additional 50,438 shares during the quarter. EntryPoint Capital LLC owned 0.14% of Backblaze worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Backblaze by 15.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,780 shares of the company's stock worth $89,000 after purchasing an additional 1,992 shares during the period. Bank of New York Mellon Corp raised its position in Backblaze by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 88,945 shares of the company's stock worth $430,000 after purchasing an additional 4,505 shares during the period. Cerity Partners LLC raised its position in Backblaze by 5.2% in the 1st quarter. Cerity Partners LLC now owns 105,238 shares of the company's stock worth $508,000 after purchasing an additional 5,168 shares during the period. Tower Research Capital LLC TRC raised its position in Backblaze by 300.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,052 shares of the company's stock worth $42,000 after purchasing an additional 5,293 shares during the period. Finally, Rhumbline Advisers raised its position in Backblaze by 10.7% in the 1st quarter. Rhumbline Advisers now owns 58,444 shares of the company's stock worth $282,000 after purchasing an additional 5,667 shares during the period. Hedge funds and other institutional investors own 54.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BLZE shares. Needham & Company LLC lifted their target price on shares of Backblaze from $7.00 to $8.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Citizens Jmp assumed coverage on shares of Backblaze in a research report on Tuesday, June 24th. They issued a "strong-buy" rating and a $7.00 price objective on the stock. Finally, JMP Securities boosted their price objective on shares of Backblaze from $7.00 to $8.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $10.07.

Backblaze Price Performance

BLZE stock opened at $7.73 on Friday. The firm's 50-day moving average price is $5.78 and its two-hundred day moving average price is $5.60. Backblaze, Inc. has a 12-month low of $3.94 and a 12-month high of $8.16. The stock has a market capitalization of $436.75 million, a price-to-earnings ratio of -8.69 and a beta of 1.13. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.24.

Backblaze (NASDAQ:BLZE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The company had revenue of $36.30 million for the quarter, compared to the consensus estimate of $35.41 million. Backblaze had a negative net margin of 31.72% and a negative return on equity of 54.88%. Backblaze has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Backblaze, Inc. will post -1.02 earnings per share for the current year.

Backblaze Company 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.

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