Braze, Inc. (NASDAQ:BRZE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Braze, Inc. (NASDAQ:BRZE) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,535,965 shares of the company’s stock after purchasing an additional 38,777 shares during the quarter. Geode Capital Management LLC’s holdings in Braze were worth $64,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BRZE. EverSource Wealth Advisors LLC lifted its position in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new position in Braze during the fourth quarter worth $47,000. Plato Investment Management Ltd purchased a new stake in Braze during the fourth quarter worth $115,000. KBC Group NV grew its holdings in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after purchasing an additional 832 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Braze in the fourth quarter valued at $165,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BRZE. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Braze in a research report on Friday, March 28th. DA Davidson reissued a “buy” rating and set a $50.00 price objective on shares of Braze in a research note on Wednesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Friday, March 28th. William Blair reissued an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. Finally, Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Braze currently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Stock Down 4.4 %

Shares of NASDAQ BRZE opened at $29.03 on Friday. The stock has a market capitalization of $3.04 billion, a PE ratio of -25.46 and a beta of 1.13. The firm has a fifty day moving average of $36.60 and a 200-day moving average of $37.78. Braze, Inc. has a 52-week low of $27.75 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. Equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 8,365 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares in the company, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Susan Wiseman sold 4,167 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $30.98, for a total value of $129,093.66. Following the transaction, the general counsel now owns 248,999 shares in the company, valued at approximately $7,713,989.02. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,437 shares of company stock worth $2,772,276. Company insiders own 24.03% of the company’s stock.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.