Canada Pension Plan Investment Board Has $7.28 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

Canada Pension Plan Investment Board grew its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 56.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,700 shares of the company's stock after purchasing an additional 62,500 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.17% of Braze worth $7,275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. JPMorgan Chase & Co. increased its stake in Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock valued at $96,711,000 after acquiring an additional 500,667 shares during the period. Invesco Ltd. raised its holdings in Braze by 107.0% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Braze by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company's stock worth $64,340,000 after acquiring an additional 38,777 shares during the period. Finally, ShawSpring Partners LLC acquired a new stake in shares of Braze during the 4th quarter worth approximately $62,837,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson reduced their target price on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group lifted their target price on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Braze in a research report on Friday, March 28th. Piper Sandler cut their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Raymond James upped their price objective on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $51.25.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 4,167 shares of the business's 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 transaction, the general counsel now directly owns 248,999 shares in the company, valued at approximately $7,713,989.02. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the 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 $212,672.20. Following the completion of the sale, the chief technology officer now owns 157,810 shares in the company, valued at $6,441,804.20. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,937 shares of company stock worth $2,707,581 in the last three months. Insiders own 24.03% of the company's stock.

Braze Trading Up 2.9 %

Braze stock traded up $0.89 during mid-day trading on Friday, hitting $31.22. The stock had a trading volume of 786,676 shares, compared to its average volume of 1,240,675. The stock has a market capitalization of $3.27 billion, a PE ratio of -27.39 and a beta of 1.13. 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 $34.00 and a two-hundred day simple moving average of $37.66.

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 company had revenue of $160.40 million during the quarter, compared to analysts' expectations of $155.72 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Braze's revenue was up 22.4% on a year-over-year basis. Sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

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.