1,193,893 Shares in Braze, Inc. (NASDAQ:BRZE) Bought by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,193,893 shares of the company's stock, valued at approximately $50,000,000. Wellington Management Group LLP owned 1.15% of Braze at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew 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 grew its stake in Braze by 8,436.4% in 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in Braze in the 4th quarter worth about $47,000. Finally, Plato Investment Management Ltd bought a new position in Braze in the 4th quarter worth about $115,000. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BRZE. 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. Citigroup upped their target price on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. DA Davidson dropped their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company dropped their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens initiated coverage on shares of Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Braze currently has a consensus rating of "Buy" and a consensus target price of $49.47.

Insiders Place Their Bets

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

Braze Stock Performance

BRZE traded up $0.55 during trading on Friday, hitting $36.99. The stock had a trading volume of 1,534,892 shares, compared to its average volume of 1,261,227. The company has a market capitalization of $3.87 billion, a PE ratio of -32.45 and a beta of 1.15. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The stock has a 50 day simple moving average of $32.95 and a two-hundred day simple moving average of $38.00.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results 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 company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. Braze's revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. On average, equities research analysts anticipate that Braze, Inc. will post -0.98 EPS 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.