Polar Capital Holdings Plc Sells 42,767 Shares of Braze, Inc. (NASDAQ:BRZE)

Polar Capital Holdings Plc lessened its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,991 shares of the company's stock after selling 42,767 shares during the quarter. Polar Capital Holdings Plc owned 0.13% of Braze worth $5,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock worth $354,479,000 after purchasing an additional 1,476,423 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 buying an additional 63,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Braze by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock worth $96,711,000 after buying an additional 500,667 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $92,028,000 after buying an additional 1,203,149 shares in the last quarter. Finally, Invesco Ltd. grew its position in Braze by 107.0% during the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock valued at $82,246,000 after acquiring an additional 1,015,007 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

Insider Activity

In other news, General Counsel Susan Wiseman sold 4,167 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $30.98, for a total value of $129,093.66. Following the sale, the general counsel now directly owns 248,999 shares of the company's stock, valued at $7,713,989.02. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares of the company's stock, valued at approximately $633,052.74. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,937 shares of company stock worth $2,235,381 in the last quarter. 24.03% of the stock is owned by company insiders.

Braze Trading Down 3.9%

NASDAQ BRZE traded down $1.43 during trading on Monday, hitting $35.46. The company had a trading volume of 1,611,374 shares, compared to its average volume of 1,252,002. The company's fifty day moving average is $33.09 and its 200-day moving average is $37.93. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -31.11 and a beta of 1.15. Braze, Inc. has a one year low of $27.45 and a one year high of $48.33.

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

Wall Street Analyst Weigh In

BRZE has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a research note 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 research report on Tuesday, April 22nd. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Stephens initiated coverage on Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price for the company. One equities research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $50.10.

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.