Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Bailard Inc.

Bailard Inc. lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 409.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,578 shares of the company's stock after acquiring an additional 39,048 shares during the period. Bailard Inc.'s holdings in Braze were worth $2,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. purchased a new position in Braze during the 3rd quarter worth approximately $4,377,000. Morgan Stanley grew its stake in Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company's stock worth $251,769,000 after buying an additional 899,894 shares during the last quarter. Seven Eight Capital LP purchased a new position in Braze during the 3rd quarter worth approximately $283,000. Penserra Capital Management LLC grew its stake in Braze by 375.8% during the 3rd quarter. Penserra Capital Management LLC now owns 55,982 shares of the company's stock worth $2,616,000 after buying an additional 44,217 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Braze by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company's stock worth $246,099,000 after buying an additional 228,089 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company's stock.

Insider Buying and Selling

In related news, CAO Pankaj Malik sold 2,832 shares of Braze stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.52, for a total transaction of $162,896.64. Following the completion of the transaction, the chief accounting officer now directly owns 75,021 shares of the company's stock, valued at $4,315,207.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Myles Kleeger sold 15,000 shares of the business's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now directly owns 244,291 shares of the company's stock, valued at $13,914,815.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 2,832 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $57.52, for a total value of $162,896.64. Following the completion of the transaction, the chief accounting officer now directly owns 75,021 shares of the company's stock, valued at $4,315,207.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,815 shares of company stock valued at $4,164,679. 26.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BRZE shares. JPMorgan Chase & Co. dropped their price target on Braze from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, March 28th. TD Cowen lowered their target price on Braze from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, March 28th. William Blair reiterated an "outperform" rating on shares of Braze in a research note on Thursday, March 28th. Oppenheimer reiterated an "outperform" rating and issued a $75.00 target price on shares of Braze in a research note on Thursday, March 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.41.

Braze Stock Up 1.3 %

Shares of Braze stock traded up $0.53 during trading on Friday, reaching $41.71. The company's stock had a trading volume of 605,595 shares, compared to its average volume of 849,526. Braze, Inc. has a 12-month low of $25.76 and a 12-month high of $61.53. The company has a market capitalization of $4.21 billion, a P/E ratio of -31.36 and a beta of 1.13. The business has a 50 day moving average price of $48.95 and a 200-day moving average price of $50.56.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. The firm had revenue of $130.96 million during the quarter, compared to analysts' expectations of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. Research analysts predict that Braze, Inc. will post -1.18 EPS for the current fiscal 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.