Thompson Siegel & Walmsley LLC Makes New Investment in Backblaze, Inc. (NASDAQ:BLZE)

Thompson Siegel & Walmsley LLC acquired a new position in shares of Backblaze, Inc. (NASDAQ:BLZE) in the 4th quarter, Holdings Channel.com reports. The firm acquired 491,000 shares of the company’s stock, valued at approximately $2,956,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Backblaze by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 84,440 shares of the company’s stock worth $508,000 after acquiring an additional 2,105 shares during the last quarter. Verition Fund Management LLC increased its stake in Backblaze by 15.4% in the third quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock valued at $101,000 after acquiring an additional 2,106 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Backblaze by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company’s stock valued at $755,000 after acquiring an additional 5,098 shares during the last quarter. R Squared Ltd bought a new position in Backblaze in the fourth quarter valued at approximately $38,000. Finally, SG Americas Securities LLC increased its stake in Backblaze by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock valued at $120,000 after acquiring an additional 6,322 shares during the last quarter. 54.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC assumed coverage on shares of Backblaze in a research note on Tuesday. They set a “buy” rating and a $8.00 target price on the stock. Lake Street Capital cut their price target on shares of Backblaze from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, B. Riley cut their price target on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.83.

Backblaze Price Performance

BLZE stock opened at $4.98 on Friday. The firm has a market cap of $221.11 million, a price-to-earnings ratio of -4.49 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. Backblaze, Inc. has a 12-month low of $4.91 and a 12-month high of $11.00. The company’s fifty day simple moving average is $6.41 and its 200 day simple moving average is $6.52.

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.