Graham Capital Management L.P. Has $2.88 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Graham Capital Management L.P. lifted its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,841 shares of the company's stock after purchasing an additional 14,424 shares during the period. Graham Capital Management L.P. owned 0.07% of Braze worth $2,883,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. ShawSpring Partners LLC bought a new position in shares of Braze in the 4th quarter valued at about $62,837,000. Norges Bank acquired a new position in Braze during the fourth quarter worth approximately $62,639,000. Vanguard Group Inc. raised its stake in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock worth $92,028,000 after acquiring an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Braze in the 4th quarter valued at $50,000,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Stock Up 0.0 %

NASDAQ BRZE opened at $33.67 on Friday. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -29.54 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 business's fifty day moving average is $32.85 and its 200 day moving average is $37.70.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The firm had revenue of $160.40 million for 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 business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm posted ($0.04) earnings per share. On average, research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now directly owns 157,810 shares of the company's stock, valued at $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 4,167 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $30.98, for a total value of $129,093.66. Following the completion of the sale, the general counsel now owns 248,999 shares in the company, valued at $7,713,989.02. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,937 shares of company stock valued at $2,235,381. Insiders own 24.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on BRZE shares. Canaccord Genuity Group upped their price objective on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. 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. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Braze in a research note on Friday, March 28th. Finally, Wells Fargo & Company reduced their price target on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One investment 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 company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $51.25.

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.

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