Northern Trust Corp Has $28.45 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

Northern Trust Corp lessened its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,238 shares of the company's stock after selling 52,303 shares during the quarter. Northern Trust Corp owned about 0.66% of Braze worth $28,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BRZE. Barclays PLC boosted its stake in shares of Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company's stock valued at $3,472,000 after purchasing an additional 64,093 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock valued at $453,000 after purchasing an additional 346 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Braze in the fourth quarter valued at approximately $233,000. KBC Group NV increased its holdings in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after buying an additional 832 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Braze by 20.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company's stock worth $32,343,000 after buying an additional 129,298 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

Braze Stock Up 0.0%

Shares of BRZE stock opened at $33.67 on Monday. The firm has a 50 day moving average of $32.85 and a 200-day moving average of $37.75. Braze, Inc. has a 52 week low of $27.45 and a 52 week high of $48.33. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -29.54 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 business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. Braze's revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. Analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BRZE. Canaccord Genuity Group increased their price objective on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Raymond James increased their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. Piper Sandler reduced their price objective on shares of Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup raised their price target on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $51.25.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 4,167 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $30.98, for a total value of $129,093.66. Following the sale, the general counsel now directly owns 248,999 shares in the company, valued at approximately $7,713,989.02. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 7,149 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $291,822.18. Following the sale, the insider now owns 177,247 shares in the company, valued at approximately $7,235,222.54. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,937 shares of company stock valued at $2,235,381 in the last three months. 24.03% of the stock is currently owned by insiders.

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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