Nuveen Asset Management LLC Sells 68,224 Shares of Braze, Inc. (NASDAQ:BRZE)

Nuveen Asset Management LLC reduced its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,162 shares of the company's stock after selling 68,224 shares during the period. Nuveen Asset Management LLC owned about 0.16% of Braze worth $6,917,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BRZE. Barclays PLC increased its stake in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after purchasing an additional 64,093 shares during the period. KBC Group NV lifted its position in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $123,000 after buying an additional 832 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Braze by 20.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company's stock worth $32,343,000 after purchasing an additional 129,298 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Braze in the 4th quarter worth about $165,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Braze in the 4th quarter worth about $236,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRZE has been the subject of several research analyst reports. Piper Sandler reduced their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Raymond James lifted their price objective on Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday, March 28th. Citigroup boosted their price target on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Barclays cut their price target on Braze from $70.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. One 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $50.10.

Braze Stock Performance

Shares of BRZE traded up $0.55 during mid-day trading on Friday, hitting $36.99. 1,534,892 shares of the stock were exchanged, compared to its average volume of 1,261,227. The company has a market cap of $3.87 billion, a PE ratio of -32.45 and a beta of 1.15. Braze, Inc. has a 52-week low of $27.45 and a 52-week high of $48.33. The firm has a 50-day moving average of $32.95 and a two-hundred day moving average of $37.99.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company's revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity at Braze

In related news, CEO William Magnuson sold 25,089 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $900,193.32. Following the sale, the chief executive officer now owns 745,769 shares in the company, valued at approximately $26,758,191.72. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 3,405 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $122,171.40. Following the completion of the transaction, the chief accounting officer now directly owns 69,274 shares in the company, valued at $2,485,551.12. This trade represents a 4.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,150 shares of company stock worth $2,540,814. Company insiders own 18.20% of the company's stock.

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.