Backblaze, Inc. (NASDAQ:BLZE) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 77.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,995 shares of the company's stock after selling 50,799 shares during the period. Lazard Asset Management LLC's holdings in Backblaze were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. AIGH Capital Management LLC acquired a new position in Backblaze during the fourth quarter worth about $10,836,000. First Eagle Investment Management LLC increased its stake in Backblaze by 4.5% during the 4th quarter. First Eagle Investment Management LLC now owns 1,160,390 shares of the company's stock worth $6,986,000 after buying an additional 49,800 shares during the period. Geode Capital Management LLC grew its holdings in Backblaze by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 875,829 shares of the company's stock worth $5,273,000 after acquiring an additional 11,267 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Backblaze by 40.7% in the 4th quarter. Renaissance Technologies LLC now owns 545,513 shares of the company's stock valued at $3,284,000 after buying an additional 157,897 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Backblaze by 50.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 510,395 shares of the company's stock valued at $3,073,000 after buying an additional 170,513 shares in the last quarter. Hedge funds and other institutional investors own 54.03% of the company's stock.

Backblaze Stock Down 2.8%

Shares of NASDAQ BLZE traded down $0.17 during trading on Thursday, reaching $5.68. 142,921 shares of the stock were exchanged, compared to its average volume of 399,235. The business's 50-day moving average price is $4.92 and its 200 day moving average price is $5.88. Backblaze, Inc. has a twelve month low of $3.94 and a twelve month high of $8.08. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $312.05 million, a price-to-earnings ratio of -5.12 and a beta of 1.03.

Analyst Ratings Changes

A number of analysts recently weighed in on BLZE shares. Lake Street Capital decreased their price target on shares of Backblaze from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC assumed coverage on shares of Backblaze in a research report on Tuesday, March 11th. They set a "buy" rating and a $8.00 price objective for the company. Finally, B. Riley cut their price objective on shares of Backblaze from $11.50 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $10.83.

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.