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.
August 26, 2024
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