Whetstone Capital Advisors LLC Lowers Position in Backblaze, Inc. (NASDAQ:BLZE)

Whetstone Capital Advisors LLC reduced its stake in Backblaze, Inc. (NASDAQ:BLZE) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,587,009 shares of the company’s stock after selling 13,780 shares during the period. Backblaze makes up about 4.9% of Whetstone Capital Advisors LLC’s holdings, making the stock its 5th largest holding. Whetstone Capital Advisors LLC owned 3.70% of Backblaze worth $10,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Backblaze in the 2nd quarter worth about $102,000. SG Americas Securities LLC grew its stake in Backblaze by 84.1% during the second quarter. SG Americas Securities LLC now owns 21,283 shares of the company’s stock valued at $131,000 after acquiring an additional 9,720 shares in the last quarter. Tempus Wealth Planning LLC bought a new stake in Backblaze during the 3rd quarter worth approximately $157,000. Lazard Asset Management LLC lifted its stake in Backblaze by 165.7% in the 1st quarter. Lazard Asset Management LLC now owns 18,102 shares of the company’s stock worth $185,000 after purchasing an additional 11,289 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in Backblaze by 90.7% in the 2nd quarter. XTX Topco Ltd now owns 34,851 shares of the company’s stock worth $215,000 after purchasing an additional 16,577 shares in the last quarter. 54.03% of the stock is currently owned by hedge funds and other institutional investors.

Backblaze Stock Up 0.2 %

BLZE stock opened at $6.26 on Monday. 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, Inc. has a one year low of $4.91 and a one year high of $12.65. The company’s 50 day moving average price is $6.75 and its two-hundred day moving average price is $6.45.

Backblaze (NASDAQ:BLZE) last issued its earnings results on Thursday, November 7th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Backblaze had a negative return on equity of 100.67% and a negative net margin of 37.13%. The business had revenue of $32.59 million during the quarter, compared to analysts’ expectations of $32.54 million. During the same quarter in the previous year, the business earned ($0.43) EPS. Equities research analysts forecast that Backblaze, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Oppenheimer lowered their price objective on Backblaze from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Craig Hallum boosted their price target on shares of Backblaze from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Raymond James lifted their price objective on shares of Backblaze from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

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.