P.A.W. Capital Corp Takes $1.93 Million Position in Backblaze, Inc. (NASDAQ:BLZE)

P.A.W. Capital Corp acquired a new stake in Backblaze, Inc. (NASDAQ:BLZE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 320,000 shares of the company’s stock, valued at approximately $1,926,000. Backblaze comprises about 3.7% of P.A.W. Capital Corp’s investment portfolio, making the stock its 10th biggest position. P.A.W. Capital Corp owned approximately 0.72% of Backblaze as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Verition Fund Management LLC boosted its stake in Backblaze by 15.4% during the third quarter. Verition Fund Management LLC now owns 15,800 shares of the company’s stock worth $101,000 after acquiring an additional 2,106 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Backblaze by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 118,156 shares of the company’s stock worth $755,000 after acquiring an additional 5,098 shares in the last quarter. R Squared Ltd bought a new position in Backblaze during the fourth quarter worth $38,000. SG Americas Securities LLC boosted its stake in Backblaze by 46.7% during the fourth quarter. SG Americas Securities LLC now owns 19,853 shares of the company’s stock worth $120,000 after acquiring an additional 6,322 shares in the last quarter. Finally, Atom Investors LP boosted its stake in Backblaze by 27.2% during the third quarter. Atom Investors LP now owns 57,221 shares of the company’s stock worth $366,000 after acquiring an additional 12,230 shares in the last quarter. 54.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLZE has been the topic of several research analyst reports. B. Riley cut their target price on shares of Backblaze from $11.50 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Raymond James raised their price objective on shares of Backblaze from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Backblaze Stock Down 3.2 %

Backblaze stock opened at $7.21 on Friday. Backblaze, Inc. has a 1-year low of $4.91 and a 1-year high of $12.65. The firm has a market capitalization of $320.12 million, a price-to-earnings ratio of -6.50 and a beta of 0.92. The firm’s fifty day moving average price is $6.51 and its two-hundred day moving average price is $6.55. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Insider Buying and Selling at Backblaze

In other news, VP Tina Cessna sold 8,874 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total value of $56,971.08. Following the completion of the sale, the vice president now owns 144,566 shares in the company, valued at $928,113.72. This represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gleb Budman sold 10,321 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $6.42, for a total transaction of $66,260.82. Following the completion of the sale, the chief executive officer now owns 1,864,646 shares of the company’s stock, valued at approximately $11,971,027.32. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

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.