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Kwok Hang Ng Sells 2,000 Shares of Backblaze, Inc. (NASDAQ:BLZE) Stock



Backblaze, Inc. (NASDAQ:BLZEGet Rating) major shareholder Kwok Hang Ng sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of 5.29, for a total transaction of 10,580.00. Following the sale, the insider now directly owns 506,000 shares of the company’s stock, valued at 2,676,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kwok Hang Ng also recently made the following trade(s):

  • On Friday, June 17th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.02, for a total transaction of 10,040.00.
  • On Friday, June 10th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.46, for a total transaction of 10,920.00.
  • On Wednesday, June 8th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.13, for a total transaction of 12,260.00.
  • On Thursday, June 2nd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.18, for a total transaction of 12,360.00.
  • On Tuesday, May 31st, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.34, for a total transaction of 12,680.00.
  • On Monday, May 23rd, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.75, for a total value of 11,500.00.
  • On Friday, May 20th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 5.86, for a total transaction of 11,720.00.
  • On Monday, May 16th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.22, for a total transaction of 12,440.00.
  • On Thursday, May 12th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The stock was sold at an average price of 6.03, for a total transaction of 12,060.00.
  • On Tuesday, May 10th, Kwok Hang Ng sold 2,000 shares of Backblaze stock. The shares were sold at an average price of 6.69, for a total value of 13,380.00.

Shares of NASDAQ:BLZE traded up 0.19 during trading on Tuesday, hitting 5.13. 87,200 shares of the stock were exchanged, compared to its average volume of 132,680. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. Backblaze, Inc. has a 1-year low of 4.87 and a 1-year high of 36.50. The company’s fifty day simple moving average is 7.31 and its 200-day simple moving average is 11.56.

Backblaze (NASDAQ:BLZEGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported -0.41 earnings per share for the quarter, missing analysts’ consensus estimates of -0.37 by -0.04. The business had revenue of 19.49 million for the quarter, compared to analysts’ expectations of 19.31 million. Sell-side analysts predict that Backblaze, Inc. will post -1.62 earnings per share for the current year.

A number of research analysts recently weighed in on the company. B. Riley cut their price objective on Backblaze from $23.00 to $16.50 in a research note on Friday, May 6th. Lake Street Capital dropped their price target on shares of Backblaze from $21.00 to $13.00 in a research report on Friday, May 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of 20.38.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new position in Backblaze during the fourth quarter worth about $29,000. Royal Bank of Canada lifted its position in shares of Backblaze by 275.9% during the 1st quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock worth $30,000 after buying an additional 2,069 shares during the period. ETF Managers Group LLC acquired a new stake in Backblaze in the 4th quarter valued at $42,000. BlackRock Inc. boosted its stake in Backblaze by 7.9% in the 1st quarter. BlackRock Inc. now owns 116,228 shares of the company’s stock valued at $1,239,000 after buying an additional 8,536 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Backblaze in the 1st quarter worth about $117,000. 12.85% of the stock is currently owned by institutional investors and hedge funds.

About Backblaze (Get Rating)

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.

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