On August 16, 2024, Barbara Nelson, Director at Backblaze Inc (NASDAQ:BLZE), completed a sale of 16,000 shares of the company’s stock. The transaction was filed with the SEC on the same day. Following this transaction, the insider now owns 62,346 shares of Backblaze Inc.
Backblaze Inc (NASDAQ:BLZE) specializes in cloud storage and data backup services. The company provides businesses and consumers with solutions to store, use and protect their data across various devices and platforms.
Over the past year, the insider has sold a total of 16,000 shares and made no purchases. This recent sale is part of a broader trend seen within the company. Over the past year, there were 22 insider sales and no insider purchases.
Backblaze Inc. shares were trading at $6.79 on the day of the transaction. The company’s current market capitalization is $287.767 million.
The stock is considered fairly valued with a price-to-GF-Value ratio of 1, based on a GF Value of $6.76. The GF Value is a proprietary measure used to determine the fair value of a stock, taking into account historical trading multiples, a GuruFocus adjustment factor, and estimates of future business performance.
This insider sale may be of interest to investors who track insider behavior as an indicator of corporate performance and valuation direction.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
