Man Group plc Sells 153,205 Shares of Braze, Inc. (NASDAQ:BRZE)

Man Group plc decreased its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 32.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 318,449 shares of the company's stock after selling 153,205 shares during the period. Man Group plc owned about 0.31% of Braze worth $13,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position 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 worth $27,000 after buying an additional 405 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after acquiring an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Braze by 8,436.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Braze during the 4th quarter worth about $47,000. Finally, Plato Investment Management Ltd purchased a new position in Braze during the 4th quarter valued at about $115,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. DA Davidson decreased their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research report on Friday, March 28th. Barclays reduced their price objective on shares of Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a report on Friday, May 16th. 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. Finally, Stephens started coverage on Braze in a report on Wednesday, March 19th. They issued 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Braze currently has an average rating of "Buy" and a consensus target price of $50.10.

Braze Stock Performance

Shares of NASDAQ BRZE traded down $0.83 during mid-day trading on Wednesday, reaching $34.63. The company had a trading volume of 787,269 shares, compared to its average volume of 1,251,681. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -30.38 and a beta of 1.15. The business's 50-day simple moving average is $33.14 and its 200 day simple moving average is $37.94. 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 issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the company posted ($0.04) EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In other Braze news, CAO Pankaj Malik sold 3,405 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $122,171.40. Following the sale, the chief accounting officer now owns 69,274 shares in the company, valued at approximately $2,485,551.12. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Myles Kleeger sold 8,365 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.12, for a total value of $335,603.80. Following the completion of the sale, the insider now directly owns 168,882 shares of the company's stock, valued at approximately $6,775,545.84. The trade was a 4.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,001 shares of company stock worth $3,015,927 in the last three months. 18.20% of the stock is owned by corporate insiders.

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.