Mariner LLC Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Mariner LLC bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,135 shares of the company's stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 1,476,423 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Braze by 27.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock worth $96,711,000 after acquiring an additional 500,667 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Braze by 107.0% during the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $82,246,000 after acquiring an additional 1,015,007 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Braze by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company's stock worth $64,340,000 after acquiring an additional 38,777 shares during the period. Finally, Norges Bank purchased a new position in Braze in the 4th quarter valued at approximately $62,639,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Price Performance

NASDAQ BRZE opened at $32.41 on Friday. The company has a market cap of $3.39 billion, a P/E ratio of -28.43 and a beta of 1.13. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The company has a 50-day moving average of $33.22 and a 200-day moving average of $37.63.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the firm posted ($0.04) earnings per share. Braze's revenue was up 22.4% on a year-over-year basis. As a group, equities research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 7,149 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the sale, the insider now owns 177,247 shares of the company's stock, valued at approximately $7,235,222.54. This represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $30.98, for a total transaction of $129,093.66. Following the transaction, the general counsel now directly owns 248,999 shares in the company, valued at approximately $7,713,989.02. This trade represents 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 have sold 55,937 shares of company stock worth $2,235,381. 24.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BRZE shares. Citigroup boosted their target price on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Wells Fargo & Company lowered 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. Piper Sandler cut their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Finally, DA Davidson dropped their price objective on shares of Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $51.25.

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.

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