Braze, Inc. (NASDAQ:BRZE) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc lowered its position in Braze, Inc. (NASDAQ:BRZE) by 24.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,991 shares of the company’s stock after selling 42,767 shares during the quarter. Polar Capital Holdings Plc’s holdings in Braze were worth $5,444,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ShawSpring Partners LLC acquired a new stake in shares of Braze in the 4th quarter valued at about $62,837,000. Norges Bank acquired a new stake in shares of Braze in the 4th quarter valued at about $62,639,000. Vanguard Group Inc. raised its stake in shares of Braze by 21.1% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Braze by 121.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock valued at $92,028,000 after purchasing an additional 1,203,149 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Braze in the 4th quarter valued at about $50,000,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at approximately $633,052.74. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $129,093.66. Following the completion of the transaction, the general counsel now directly owns 248,999 shares of the company’s stock, valued at approximately $7,713,989.02. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,937 shares of company stock worth $2,235,381 over the last ninety days. Corporate insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Piper Sandler cut their target price on shares of Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group upped their target price on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Stephens assumed coverage on shares of Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective on the stock. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the stock a “buy” rating in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Braze has a consensus rating of “Buy” and a consensus price target of $51.25.

Braze Price Performance

NASDAQ BRZE opened at $36.38 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -31.91 and a beta of 1.15. The company’s fifty day moving average is $33.03 and its two-hundred day moving average is $37.81. Braze, Inc. has a 52-week low of $27.45 and a 52-week high of $48.33.

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

Braze Profile

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.