9,135 Shares in Braze, Inc. (NASDAQ:BRZE) Acquired by Mariner LLC

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Braze during the 4th quarter worth $62,639,000. Vanguard Group Inc. raised its position in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock worth $354,479,000 after purchasing an additional 1,476,423 shares during the period. Wellington Management Group LLP purchased a new stake in Braze in the 4th quarter worth approximately $50,000,000. JPMorgan Chase & Co. boosted its stake in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Braze by 107.0% during the fourth quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock valued at $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. Institutional investors own 90.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group raised their price target on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, March 28th. Citigroup lifted their price objective on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Wells Fargo & Company decreased their target price on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, DA Davidson cut their target price on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. 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. Based on data from MarketBeat.com, Braze currently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Trading Down 0.6 %

NASDAQ:BRZE traded down $0.19 during mid-day trading on Friday, hitting $33.47. The company had a trading volume of 255,466 shares, compared to its average volume of 1,252,911. Braze, Inc. has a 1 year low of $27.45 and a 1 year high of $48.33. The business has a fifty day simple moving average of $32.90 and a 200-day simple moving average of $37.63. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -29.36 and a beta of 1.15.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Braze

In other Braze news, insider Myles Kleeger sold 8,365 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares in the company, valued at approximately $6,775,545.84. This represents a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Magnuson sold 18,050 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 564,766 shares in the company, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,937 shares of company stock valued at $2,235,381 in the last three months. Corporate insiders own 24.03% of the company's stock.

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.