Backblaze, Inc. (BLZE)

Distributing

Strong institutional distribution: ownership decreased -8.80% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

47.57%

QoQ Change

-8.80%

Total Value

$91.7B

Shares Outstanding

60.0M

Crowding AnalysisCrowded

Holders133of 5,944

Avg: 68

Uncrowded89th percentileCrowded

Institutional Activity

Buy/Sell Ratio0.84x

71th percentile

67 buying80 selling

+24

New

-32

Closed

-3,691,443

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 2.8 QHolders: 133

Ownership Concentration

Top 5: 39.1%Top 10: 59.6%

BlackRock,12.9%

VANGUARD CAPITAL MANAGEMENT8.2%

Pillsbury Lake Capital6.9%

ACADIAN ASSET MANAGEMENT5.7%

Whetstone Capital Advisors,5.3%

Others (128)60.9%

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Conviction-Weighted Ownership

Median weight: 0.01%Avg weight: 0.54%Max: 3.06%High conviction (>1%): 2

BlackRock,

VANGUARD CAPITAL MANAGEMENT

Pillsbury Lake Capital

ACADIAN ASSET MANAGEMENT

Whetstone Capital Advisors,

AWM Investment Company,

GEODE CAPITAL MANAGEMENT,

RENAISSANCE TECHNOLOGIES

STATE STREET

Connor, Clark & Lunn Investment Management

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWVANGUARD CAPITAL MANAGEMENT$8M2.3M shr

SOLDAWM Investment Company$6M1.7M shr

BOUGHTRENAISSANCE TECHNOLOGIES$1M362K shr

BOUGHTPillsbury Lake Capital$801K232K shr

SOLDConnor, Clark & Lunn Investment Management$422K122K shr

NEWACADIAN ASSET MANAGEMENT$5.4B1.2M shr

NEWPillsbury Lake Capital$8M1.7M shr

NEWRENAISSANCE TECHNOLOGIES$4M811K shr

BOUGHTVANGUARD GROUP$2M403K shr

BOUGHTWhetstone Capital Advisors$276K59K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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