Braze, Inc. (NASDAQ:BRZE) Shares Sold by Steadview Capital Management LLC

Steadview Capital Management LLC cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 53.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,524 shares of the company's stock after selling 241,165 shares during the quarter. Braze makes up 3.8% of Steadview Capital Management LLC's portfolio, making the stock its 7th largest position. Steadview Capital Management LLC owned about 0.21% of Braze worth $11,079,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BRZE. Principal Financial Group Inc. acquired a new position in Braze in the 3rd quarter valued at $4,377,000. Morgan Stanley increased its position in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company's stock valued at $251,769,000 after acquiring an additional 899,894 shares during the period. Seven Eight Capital LP bought a new position in shares of Braze during the third quarter valued at $283,000. Bailard Inc. increased its holdings in Braze by 409.7% in the fourth quarter. Bailard Inc. now owns 48,578 shares of the company's stock valued at $2,581,000 after purchasing an additional 39,048 shares during the period. Finally, Penserra Capital Management LLC raised its position 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 purchasing an additional 44,217 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRZE. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Braze in a research note on Thursday, March 28th. Wells Fargo & Company dropped their price target on Braze from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, April 29th. Canaccord Genuity Group dropped their target price on shares of Braze from $65.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Oppenheimer reissued an "outperform" rating and set a $75.00 target price on shares of Braze in a research note on Thursday, March 28th. Finally, William Blair reiterated an "outperform" rating on shares of Braze in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $64.12.

Insider Buying and Selling

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $40.93, for a total transaction of $184,185.00. Following the transaction, the chief financial officer now directly owns 258,681 shares in the company, valued at $10,587,813.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Myles Kleeger sold 15,000 shares of the business's stock in a transaction dated 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 sale, the insider now owns 244,291 shares of the company's stock, valued at approximately $13,914,815.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $40.93, for a total value of $184,185.00. Following the transaction, the chief financial officer now owns 258,681 shares in the company, valued at $10,587,813.33. The disclosure for this sale can be found here. Insiders sold 82,315 shares of company stock worth $4,348,864 in the last quarter. 26.48% of the stock is owned by insiders.

Braze Price Performance

BRZE stock traded up $0.05 during midday trading on Friday, reaching $41.60. The company had a trading volume of 387,570 shares, compared to its average volume of 903,095. The firm has a 50-day moving average price of $47.11 and a 200-day moving average price of $50.37. The company has a market capitalization of $4.19 billion, a P/E ratio of -31.28 and a beta of 1.13. Braze, Inc. has a 1 year low of $26.11 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results 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. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The company had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. On average, equities analysts predict that Braze, Inc. will post -1.18 EPS for the current year.

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.