Arnhold LLC Trims Stake in Braze, Inc. (NASDAQ:BRZE)

Arnhold LLC lessened its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,838 shares of the company’s stock after selling 1,537 shares during the quarter. Arnhold LLC’s holdings in Braze were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Braze by 2.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,693,357 shares of the company’s stock worth $112,798,000 after acquiring an additional 63,000 shares during the period. JPMorgan Chase & Co. grew its position in shares of Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock worth $96,711,000 after purchasing an additional 500,667 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after purchasing an additional 1,203,149 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock valued at $82,246,000 after purchasing an additional 1,015,007 shares during the period. Institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In related news, CEO William Magnuson sold 18,050 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the sale, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,937 shares of company stock valued at $2,707,581 in the last three months. Company insiders own 24.03% of the company’s stock.

Braze Trading Up 7.0 %

BRZE stock opened at $30.33 on Friday. The stock has a market cap of $3.17 billion, a PE ratio of -26.61 and a beta of 1.13. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The company has a 50-day moving average price of $34.21 and a 200 day moving average price of $37.54.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Sell-side analysts forecast that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BRZE. DA Davidson dropped their price target on Braze from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Citigroup upped their target price on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Canaccord Genuity Group lifted their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Piper Sandler dropped their price objective on shares of Braze from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Braze has a consensus rating of “Buy” and an average price target of $51.25.

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.