Paloma Partners Management Co Invests $5.18 Million in Braze, Inc. (NASDAQ:BRZE)

Paloma Partners Management Co bought a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 123,724 shares of the company's stock, valued at approximately $5,182,000. Paloma Partners Management Co owned approximately 0.12% of Braze as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ShawSpring Partners LLC bought a new position in shares of Braze during the fourth quarter worth approximately $62,837,000. Norges Bank acquired a new stake in Braze in the fourth quarter valued at about $62,639,000. Vanguard Group Inc. grew its holdings in shares of Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Braze by 121.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company's stock worth $92,028,000 after buying an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Braze in the fourth quarter valued at about $50,000,000. 90.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRZE. Piper Sandler decreased their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Friday, March 28th. Stephens began coverage on Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Citigroup lifted their price objective on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $51.25.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 4,167 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the transaction, the general counsel now owns 248,999 shares in the company, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.30, for a total transaction of $61,950.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $630,609.70. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,937 shares of company stock valued at $2,235,381. Corporate insiders own 24.03% of the company's stock.

Braze Trading Up 0.6 %

Shares of BRZE traded up $0.20 on Thursday, reaching $31.33. The company's stock had a trading volume of 595,280 shares, compared to its average volume of 1,235,006. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The stock has a market capitalization of $3.28 billion, a PE ratio of -27.48 and a beta of 1.13. The firm has a fifty day moving average of $33.32 and a 200-day moving average of $37.57.

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