Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Algert Global LLC

Algert Global LLC raised its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,760 shares of the company's stock after acquiring an additional 10,794 shares during the period. Algert Global LLC owned approximately 0.05% of Braze worth $2,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Braze in the 4th quarter worth approximately $498,000. Thrivent Financial for Lutherans purchased a new stake in Braze during the fourth quarter worth $708,000. Barclays PLC grew its position in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company's stock valued at $3,472,000 after buying an additional 64,093 shares during the period. Pictet Asset Management Holding SA increased its holdings in Braze by 27.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after buying an additional 1,938 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Braze in the fourth quarter worth about $549,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Insider Activity at Braze

In other news, CAO Pankaj Malik sold 2,585 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 $105,519.70. Following the completion of the sale, the chief accounting officer now directly owns 52,199 shares of the company's stock, valued at approximately $2,130,763.18. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction dated 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 directly owns 564,766 shares of the company's stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,937 shares of company stock worth $2,235,381. Corporate insiders own 24.03% of the company's stock.

Braze Stock Up 0.0 %

NASDAQ:BRZE traded up $0.01 on Friday, reaching $33.67. The company's stock had a trading volume of 684,042 shares, compared to its average volume of 1,244,440. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -29.54 and a beta of 1.15. Braze, Inc. has a 12-month low of $27.45 and a 12-month high of $48.33. The stock has a 50 day moving average price of $32.85 and a 200 day moving average price of $37.75.

Braze (NASDAQ:BRZE - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the firm earned ($0.04) EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

BRZE has been the subject of several recent analyst reports. Piper Sandler cut their price target on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research report on Friday, March 28th. Canaccord Genuity Group increased their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Braze in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $51.25.

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.