Braze, Inc. (NASDAQ:BRZE) Position Lessened by Champlain Investment Partners LLC

Champlain Investment Partners LLC trimmed its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,639,844 shares of the company's stock after selling 139,956 shares during the quarter. Champlain Investment Partners LLC owned 2.55% of Braze worth $110,557,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BRZE. Aster Capital Management DIFC Ltd grew 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 acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its position in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after buying an additional 928 shares during the period. SBI Securities Co. Ltd. purchased a new position in Braze in the fourth quarter valued at about $47,000. Plato Investment Management Ltd acquired a new stake in shares of Braze during the 4th quarter valued at approximately $115,000. Finally, KBC Group NV grew its holdings in shares of Braze by 39.7% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after acquiring an additional 832 shares during the period. Hedge funds and other institutional investors own 90.47% of the company's stock.

Braze Stock Up 1.5 %

NASDAQ BRZE traded up $0.43 on Tuesday, reaching $28.11. 234,133 shares of the stock traded hands, compared to its average volume of 1,222,941. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -24.65 and a beta of 1.13. The firm's fifty day simple moving average is $34.98 and its 200 day simple moving average is $37.68. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DA Davidson lowered their target price on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Stifel Nicolaus set a $50.00 target price on Braze and gave the company a "buy" rating in a research note on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Braze in a report on Friday, March 28th. Finally, Raymond James lifted their price objective on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $51.75.

Insider Buying and Selling at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the sale, the general counsel now directly owns 189,520 shares of the company's stock, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Magnuson sold 18,050 shares of Braze stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares in the company, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,937 shares of company stock valued at $2,707,581. 24.03% of the stock is currently owned by corporate insiders.

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.