Boothbay Fund Management LLC Acquires Shares of 59,251 Braze, Inc. (NASDAQ:BRZE)

Boothbay Fund Management LLC bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,251 shares of the company's stock, valued at approximately $2,481,000. Boothbay Fund Management LLC owned about 0.06% of Braze at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Braze in the 4th quarter valued at about $498,000. JPMorgan Chase & Co. increased its holdings in shares of Braze by 146.9% in the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Braze during the fourth quarter worth approximately $708,000. Barclays PLC boosted its stake in Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after buying an additional 64,093 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Braze by 27.7% in the 4th 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. Hedge funds and other institutional investors own 90.47% of the company's stock.

Analyst Upgrades and Downgrades

BRZE has been the topic of several analyst reports. Stephens initiated coverage on Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target on the stock. Citigroup boosted their target price on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. Wells Fargo & Company cut their price target on shares of Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday, March 28th. Finally, Piper Sandler cut their target price on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. 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's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $51.25.

Braze Price Performance

Shares of NASDAQ BRZE traded up $1.08 during mid-day trading on Friday, hitting $32.41. The company had a trading volume of 761,635 shares, compared to its average volume of 1,238,664. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33. The company has a market capitalization of $3.39 billion, a PE ratio of -28.43 and a beta of 1.13. The business's 50-day simple moving average is $33.22 and its 200 day simple moving average is $37.63.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the company earned ($0.04) EPS. Braze's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the sale, the general counsel now directly owns 248,999 shares of the company's stock, valued at $7,713,989.02. The trade was a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Myles Kleeger sold 8,365 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total value of $335,603.80. Following the transaction, the insider now directly owns 168,882 shares of the company's stock, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,937 shares of company stock worth $2,235,381 in the last 90 days. Corporate insiders own 24.03% of the company's stock.

Braze Company 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.