8,031 Shares in Braze, Inc. (NASDAQ:BRZE) Bought by Corton Capital Inc.

Corton Capital Inc. bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,031 shares of the company's stock, valued at approximately $336,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Braze by 168.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after buying an additional 405 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Braze during the fourth quarter worth $47,000. Finally, Plato Investment Management Ltd bought a new stake in Braze in the fourth quarter valued at approximately $115,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Raymond James boosted their target price on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Canaccord Genuity Group lifted their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Braze in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $51.25.

Insider Buying and Selling at Braze

In other news, General Counsel Susan Wiseman sold 3,925 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 value of $160,218.50. Following the transaction, the general counsel now owns 185,595 shares of the company's stock, valued at $7,575,987.90. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.30, for a total value of $61,950.00. Following the sale, the director now owns 15,269 shares of the company's stock, valued at approximately $630,609.70. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,937 shares of company stock valued at $2,235,381 in the last three months. 24.03% of the stock is currently owned by company insiders.

Braze Price Performance

Shares of NASDAQ BRZE traded up $0.01 during mid-day trading on Friday, hitting $33.67. The company had a trading volume of 684,042 shares, compared to its average volume of 1,244,440. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -29.54 and a beta of 1.15. The firm's 50 day simple moving average is $32.85 and its two-hundred day simple moving average is $37.70.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share 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 return on equity of 24.88% and a negative net margin of 20.41%. The company's revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Equities analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current 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.