Victory Capital Management Inc. Sells 96,792 Shares of Braze, Inc. (NASDAQ:BRZE)

Victory Capital Management Inc. cut its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 23.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,348 shares of the company's stock after selling 96,792 shares during the quarter. Victory Capital Management Inc. owned approximately 0.31% of Braze worth $16,701,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Morgan Stanley grew its position in shares of Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company's stock valued at $251,769,000 after purchasing an additional 899,894 shares during the last quarter. Vanguard Group Inc. boosted its position in Braze by 4.5% during the third quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company's stock worth $246,099,000 after acquiring an additional 228,089 shares during the last quarter. Invesco Ltd. boosted its position in Braze by 167.5% during the third quarter. Invesco Ltd. now owns 1,293,974 shares of the company's stock worth $60,467,000 after acquiring an additional 810,295 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Braze by 180.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company's stock worth $60,053,000 after acquiring an additional 826,100 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Braze by 90.7% during the fourth quarter. Federated Hermes Inc. now owns 503,994 shares of the company's stock worth $26,777,000 after acquiring an additional 239,742 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 2,832 shares of the firm's stock in a transaction on Friday, February 16th. The shares were 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 approximately $4,315,207.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO William Magnuson sold 11,874 shares of Braze stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $57.51, for a total value of $682,873.74. Following the completion of the transaction, the chief executive officer now directly owns 636,514 shares of the company's stock, valued at approximately $36,605,920.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 2,832 shares of Braze stock in a transaction dated Friday, February 16th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 83,315 shares of company stock valued at $4,391,304 in the last ninety days. Corporate insiders own 26.48% of the company's stock.

Braze Price Performance

Braze stock traded down $0.08 during midday trading on Friday, hitting $41.23. 608,797 shares of the stock were exchanged, compared to its average volume of 766,501. Braze, Inc. has a 1 year low of $28.92 and a 1 year high of $61.53. The firm has a market cap of $4.16 billion, a P/E ratio of -31.00 and a beta of 1.13. The company has a 50 day moving average price of $45.55 and a two-hundred day moving average price of $50.27.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly 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 firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. As a group, analysts predict that Braze, Inc. will post -1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BRZE shares. Scotiabank decreased their target price on shares of Braze from $65.00 to $58.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 28th. Piper Sandler reiterated an "overweight" rating and issued a $66.00 price target on shares of Braze in a report on Friday, April 5th. William Blair reiterated an "outperform" rating on shares of Braze in a report on Thursday, March 28th. UBS Group upgraded shares of Braze from a "neutral" rating to a "buy" rating and set a $62.00 price target on the stock in a report on Thursday, March 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price target on shares of Braze in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $64.12.

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.