Cadian Capital Management LP Sells 823,204 Shares of Braze, Inc. (NASDAQ:BRZE)

Cadian Capital Management LP lessened its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,673,650 shares of the company's stock after selling 823,204 shares during the period. Braze makes up 8.9% of Cadian Capital Management LP's investment portfolio, making the stock its 3rd largest holding. Cadian Capital Management LP owned 3.55% of Braze worth $153,852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BRZE. Mercer Global Advisors Inc. ADV lifted its holdings in Braze by 2.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,340 shares of the company's stock valued at $559,000 after acquiring an additional 316 shares during the period. Harbor Capital Advisors Inc. increased 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 valued at $453,000 after purchasing an additional 346 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares in the last quarter. Finally, KBC Group NV grew its position in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after buying an additional 832 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

Braze Trading Up 0.0 %

Shares of NASDAQ BRZE traded up $0.01 on Friday, reaching $33.67. 684,042 shares of the company traded hands, compared to its average volume of 1,244,440. The stock has a market capitalization of $3.52 billion, a PE ratio of -29.54 and a beta of 1.15. Braze, Inc. has a fifty-two week low of $27.45 and a fifty-two week high of $48.33. The company has a 50 day moving average of $32.85 and a 200 day moving average of $37.70.

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

Insider Activity at Braze

In other Braze news, insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction that occurred 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 transaction, the insider now directly owns 177,247 shares of the company's stock, valued at $7,235,222.54. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,167 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the sale, the general counsel now owns 248,999 shares of the company's stock, valued at approximately $7,713,989.02. This represents a 1.65 % 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 worth $2,235,381. 24.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BRZE shares. Piper Sandler reduced their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Citigroup boosted their target price on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Raymond James raised their price target on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Stephens began coverage on Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target for the company. Finally, DA Davidson lowered their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $51.25.

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.