Champlain Investment Partners LLC Trims Holdings in Braze, Inc. (NASDAQ:BRZE)

Champlain Investment Partners LLC lowered its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,639,844 shares of the company’s stock after selling 139,956 shares during the period. Champlain Investment Partners LLC owned approximately 2.55% of Braze worth $110,557,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BRZE. Canada Pension Plan Investment Board boosted its position in shares of Braze by 56.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 173,700 shares of the company’s stock worth $7,275,000 after buying an additional 62,500 shares during the period. ShawSpring Partners LLC acquired a new position in Braze during the 4th quarter worth about $62,837,000. Mariner LLC acquired a new position in Braze during the 4th quarter worth about $383,000. Barclays PLC boosted its holdings in Braze by 9.4% during the 4th quarter. Barclays PLC now owns 117,498 shares of the company’s stock valued at $4,921,000 after acquiring an additional 10,140 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in Braze in the 4th quarter valued at about $6,887,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling

In other news, CTO Jonathan Hyman sold 5,210 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now owns 157,810 shares in the company, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Myles Kleeger sold 7,149 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares in the company, valued at $7,235,222.54. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,937 shares of company stock worth $2,707,581 in the last 90 days. Company insiders own 24.03% of the company’s stock.

Braze Stock Performance

Braze stock opened at $28.42 on Thursday. The company has a market capitalization of $2.97 billion, a P/E ratio of -24.93 and a beta of 1.13. Braze, Inc. has a fifty-two week low of $27.75 and a fifty-two week high of $48.33. The stock has a 50-day simple moving average of $35.77 and a 200-day simple moving average of $37.65.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. As a group, analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

BRZE has been the topic of several research reports. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a “buy” rating in a research report on Friday, March 28th. Canaccord Genuity Group raised their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. William Blair restated an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Finally, DA Davidson reduced their price target on Braze from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. One investment 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, the company presently has an average rating of “Buy” and an average price target of $52.50.

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.