Braze, Inc. (NASDAQ:BRZE) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 340,955 shares of the company's stock after selling 13,690 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.33% of Braze worth $14,279,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BRZE. Citigroup lifted their target price on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Stephens began coverage on Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Braze in a research report on Tuesday. They issued an "overweight" rating and a $45.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Braze in a report on Friday, March 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $49.25.

Braze Stock Performance

BRZE stock traded down $0.28 during midday trading on Tuesday, hitting $36.24. 1,336,917 shares of the stock were exchanged, compared to its average volume of 1,259,970. The stock's 50-day moving average price is $32.93 and its 200-day moving average price is $38.01. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -31.79 and a beta of 1.15. Braze, Inc. has a fifty-two week low of $27.45 and a fifty-two week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million for 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 revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. Research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Braze

In other news, CTO Jonathan Hyman sold 9,197 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,988.36. Following the completion of the transaction, the chief technology officer now directly owns 214,024 shares of the company's stock, valued at $7,679,181.12. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Astha Malik sold 13,460 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $35.88, for a total value of $482,944.80. Following the sale, the insider now directly owns 258,395 shares in the company, valued at approximately $9,271,212.60. The trade was a 4.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,150 shares of company stock valued at $2,540,814 over the last quarter. Corporate insiders own 18.20% of the company's stock.

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.