Have Insiders Sold Backblaze Shares Recently?

Investors may wish to note that the Co-Founder of Backblaze, Inc., Gleb Budman, recently netted US$66k from selling stock, receiving an average price of US$6.42. On the bright side, that's just a small sale and only reduced their holding by 0.6%.

See our latest analysis for Backblaze

The Last 12 Months Of Insider Transactions At Backblaze

Notably, that recent sale by Co-Founder Gleb Budman was not the only time they sold Backblaze shares this year. They previously made an even bigger sale of -US$1.6m worth of shares at a price of US$11.42 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The silver lining is that this sell-down took place above the latest price (US$6.49). So it may not shed much light on insider confidence at current levels.

In the last year Backblaze insiders didn't buy any company stock. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

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Insider Ownership Of Backblaze

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. It appears that Backblaze insiders own 3.9% of the company, worth about US$13m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At Backblaze Tell Us?

Insiders sold Backblaze shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. Insiders own shares, but we're still pretty cautious, given the history of sales. So we'd only buy after careful consideration. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Backblaze. For example - Backblaze has 3 warning signs we think you should be aware of.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.