10,000 Shares in Braze, Inc. (NASDAQ:BRZE) Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the company's stock, valued at approximately $419,000.

A number of other institutional investors and hedge funds have also modified their holdings of BRZE. T. Rowe Price Investment Management Inc. grew its position in 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 valued at $112,798,000 after acquiring an additional 63,000 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 1,203,149 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Braze by 126.6% in the fourth quarter. Hsbc Holdings PLC now owns 17,844 shares of the company's stock worth $750,000 after purchasing an additional 9,970 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 405 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Braze by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 40,216 shares of the company's stock valued at $1,684,000 after purchasing an additional 2,572 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Stock Performance

Shares of BRZE traded up $0.07 during mid-day trading on Monday, reaching $32.48. 282,663 shares of the company were exchanged, compared to its average volume of 1,235,023. Braze, Inc. has a 52 week low of $27.45 and a 52 week high of $48.33. The business has a 50 day simple moving average of $33.22 and a two-hundred day simple moving average of $37.68. The stock has a market capitalization of $3.40 billion, a PE ratio of -28.54 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results 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. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The company's quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares of the company's stock, valued at $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at approximately $633,052.74. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on BRZE. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the company a "buy" rating in a research report on Friday, March 28th. Citigroup upped their price target 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. Stephens began coverage on Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target for the company. Canaccord Genuity Group upped their price objective on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. Finally, Raymond James boosted their target price on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. One 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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.