The Manufacturers Life Insurance Company Has $34.30 Million Position in Braze, Inc. (NASDAQ:BRZE)

The Manufacturers Life Insurance Company grew its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 2,153.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 819,045 shares of the company's stock after purchasing an additional 782,701 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.79% of Braze worth $34,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its holdings in shares of Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock worth $453,000 after acquiring an additional 346 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 raised its position in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares in the last quarter. KBC Group NV lifted its stake in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $123,000 after acquiring an additional 832 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Braze Trading Down 2.2 %

Braze stock traded down $0.70 during mid-day trading on Monday, hitting $31.71. The stock had a trading volume of 1,424,198 shares, compared to its average volume of 1,239,406. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The stock 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 $3.32 billion, a PE ratio of -27.82 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping 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 business had revenue of $160.40 million during the quarter, compared to analysts' expectations of $155.72 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BRZE. Wells Fargo & Company cut 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. Piper Sandler cut their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Raymond James upped their price objective 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. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Braze in a report on Friday, March 28th. Finally, Stephens started coverage on shares of Braze in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price on the stock. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $51.25.

Insider Buying and Selling at Braze

In related news, insider Myles Kleeger sold 7,149 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 transaction of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares in the company, valued at approximately $7,235,222.54. This represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 3,925 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 $160,218.50. Following the completion of the sale, the general counsel now owns 185,595 shares in the company, valued at $7,575,987.90. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is currently owned by corporate insiders.

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.