Braze, Inc. (NASDAQ:BRZE) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC decreased its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 80.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,990 shares of the company's stock after selling 20,527 shares during the period. Bridgefront Capital LLC's holdings in Braze were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BRZE. Vanguard Group Inc. increased its holdings in Braze by 21.1% during 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. T. Rowe Price Investment Management Inc. raised its holdings in Braze by 2.4% during the 4th 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. JPMorgan Chase & Co. boosted its holdings in shares of Braze by 27.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock worth $96,711,000 after acquiring an additional 500,667 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Braze by 121.0% in 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 purchasing an additional 1,203,149 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Braze by 107.0% in the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $82,246,000 after purchasing an additional 1,015,007 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BRZE. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Braze in a research note on Friday, March 28th. Piper Sandler cut their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group boosted their target price on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. 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 note on Friday, March 28th. Finally, DA Davidson cut their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $51.25.

Braze Stock Up 1.8%

BRZE traded up $0.65 during trading on Tuesday, hitting $36.79. 1,257,918 shares of the stock were exchanged, compared to its average volume of 1,243,880. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33. The stock has a fifty day moving average price of $32.85 and a two-hundred day moving average price of $37.79. The firm has a market capitalization of $3.85 billion, a P/E ratio of -32.27 and a beta of 1.15.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share 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 company had revenue of $160.40 million during the quarter, compared to analysts' expectations of $155.72 million. During the same period 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. Analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 18,050 shares of the firm's stock in a transaction on 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 approximately $23,053,748.12. This trade represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at $633,052.74. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,937 shares of company stock valued at $2,235,381. 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.