Backblaze, Inc. (NASDAQ:BLZE) Stock Holdings Boosted by Marshall Wace LLP

Marshall Wace LLP grew its holdings in shares of Backblaze, Inc. (NASDAQ:BLZE - Free Report) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,789 shares of the company's stock after purchasing an additional 111,771 shares during the period. Marshall Wace LLP owned 0.87% of Backblaze worth $2,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BLZE. Bank of New York Mellon Corp grew its position in shares of Backblaze by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company's stock valued at $508,000 after buying an additional 2,105 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of Backblaze by 20.8% during the fourth quarter. EntryPoint Capital LLC now owns 23,558 shares of the company's stock valued at $142,000 after purchasing an additional 4,054 shares during the last quarter. Quantbot Technologies LP grew 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 purchasing an additional 4,393 shares during the last quarter. R Squared Ltd bought a new stake in shares of Backblaze in the 4th quarter worth approximately $38,000. Finally, SG Americas Securities LLC grew its stake in Backblaze by 46.7% during the 4th quarter. SG Americas Securities LLC now owns 19,853 shares of the company's stock worth $120,000 after buying an additional 6,322 shares during the last quarter. 54.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Backblaze Stock Performance

Shares of BLZE traded up $0.10 during trading hours on Friday, reaching $4.56. 33,973 shares of the company's stock traded hands, compared to its average volume of 391,616. The firm has a market capitalization of $247.34 million, a price-to-earnings ratio of -4.10 and a beta of 1.02. The business's fifty day simple moving average is $5.07 and its two-hundred day simple moving average is $6.15. Backblaze, Inc. has a twelve month low of $3.94 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54.

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.