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

Polar Capital Holdings Plc lowered its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 24.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 129,991 shares of the company’s stock after selling 42,767 shares during the period. Polar Capital Holdings Plc owned about 0.13% of Braze worth $5,444,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BRZE. Tower Research Capital LLC TRC raised its stake in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock worth $35,000 after acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Braze in the fourth quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Braze in the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Activity

In related news, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the transaction, the chief technology officer now owns 157,810 shares in the company, valued at approximately $6,441,804.20. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.30, for a total transaction of $61,950.00. Following the transaction, the director now owns 15,269 shares in the company, valued at $630,609.70. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,937 shares of company stock valued at $2,235,381 in the last ninety days. Company insiders own 24.03% of the company’s stock.

Braze Trading Down 1.0%

BRZE stock opened at $36.38 on Friday. The firm has a 50 day moving average of $33.03 and a 200-day moving average of $37.81. Braze, Inc. has a 12-month low of $27.45 and a 12-month high of $48.33. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -31.91 and a beta of 1.15.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The firm 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 company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. Sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on BRZE shares. Citigroup upped their price target on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company reduced their price objective on Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Canaccord Genuity Group increased their price objective on 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 Braze in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on Braze from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One investment 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 stock. According to MarketBeat, Braze presently 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.