Braze, Inc. (NASDAQ:BRZE) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 126.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,844 shares of the company's stock after buying an additional 9,970 shares during the period. Hsbc Holdings PLC's holdings in Braze were worth $750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BRZE. Tower Research Capital LLC TRC grew its stake in shares of Braze by 168.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. MetLife Investment Management LLC grew its position in Braze by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 40,216 shares of the company's stock valued at $1,684,000 after buying an additional 2,572 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Braze by 56.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 173,700 shares of the company's stock valued at $7,275,000 after buying an additional 62,500 shares during the last quarter. ShawSpring Partners LLC acquired a new position in Braze in the 4th quarter valued at $62,837,000. Finally, Mariner LLC acquired a new stake in shares of Braze in the 4th quarter worth $383,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BRZE shares. Canaccord Genuity Group lifted their price objective on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. Piper Sandler decreased their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Raymond James increased their price target on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Stephens assumed coverage on shares of Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective on the stock. Finally, Citigroup increased their target price on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $51.25.

Insider Transactions at Braze

In related news, CTO Jonathan Hyman sold 5,210 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $212,672.20. Following the sale, the chief technology officer now directly owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. This trade represents 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 at the SEC website. Also, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares of the company's stock, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,937 shares of company stock worth $2,235,381 over the last quarter. 24.03% of the stock is currently owned by insiders.

Braze Stock Performance

BRZE stock traded up $1.19 during trading on Wednesday, hitting $32.62. The stock had a trading volume of 1,082,592 shares, compared to its average volume of 1,241,341. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -28.61 and a beta of 1.15. The company's 50 day moving average price is $32.93 and its two-hundred day moving average price is $37.61.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $160.40 million for 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%. The company's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Braze Company 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.