Aquatic Capital Management LLC Sells 21,345 Shares of Braze, Inc. (NASDAQ:BRZE)

Aquatic Capital Management LLC cut its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 38.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,855 shares of the company's stock after selling 21,345 shares during the quarter. Aquatic Capital Management LLC's holdings in Braze were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ShawSpring Partners LLC acquired a new position in Braze in the 4th quarter worth about $62,837,000. Norges Bank bought a new stake in shares of Braze in the 4th quarter valued at approximately $62,639,000. Vanguard Group Inc. increased its holdings in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock worth $354,479,000 after buying an additional 1,476,423 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $92,028,000 after acquiring an additional 1,203,149 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Braze in the fourth quarter valued at approximately $50,000,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Canaccord Genuity Group upped their price target on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. DA Davidson dropped their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler decreased their price objective on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Stephens assumed coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price on the stock. Finally, Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Braze currently has a consensus rating of "Buy" and a consensus price target of $51.25.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 4,167 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $30.98, for a total value of $129,093.66. Following the completion of the transaction, the general counsel now owns 248,999 shares in the company, valued at $7,713,989.02. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,937 shares of company stock valued at $2,235,381. Insiders own 24.03% of the company's stock.

Braze Stock Performance

Shares of NASDAQ:BRZE traded down $0.09 on Monday, hitting $32.32. The stock had a trading volume of 332,745 shares, compared to its average volume of 1,235,128. The firm's 50 day moving average price is $33.22 and its 200-day moving average price is $37.68. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -28.44 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $155.72 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

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.