Backblaze CFO Francis P. Patchel sold 3,261 shares at $6.22 each on August 22nd.

Backblaze CFO Francis P. Patchel sold 3,261 shares of the company's stock at $6.22 each on Aug 22nd, bringing his remaining shares to 152,485 valued at $948,456.70. The cloud storage platform company, Backblaze Inc. (NASDAQ: BLZE), reported a negative net margin of 48.62% and negative return on equity of 105.67% in its last reported quarter. Despite the negative earnings, analysts have given the stock a "buy" rating with a consensus target price of $12.60. Institutional investors, including SG Americas Securities LLC, have increased their stakes in the company. Patchel's sale follows similar transactions by CFO Patchel and CEO Gleb Budman earlier in August.