123,724 Shares in Braze, Inc. (NASDAQ:BRZE) Bought by Paloma Partners Management Co

Paloma Partners Management Co purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 123,724 shares of the company's stock, valued at approximately $5,182,000. Paloma Partners Management Co owned about 0.12% of Braze as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ShawSpring Partners LLC acquired a new position in shares of Braze in the fourth quarter valued at approximately $62,837,000. Norges Bank purchased a new position in Braze in the 4th quarter valued at $62,639,000. Vanguard Group Inc. increased its stake in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD raised its position in Braze by 121.0% during the 4th 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 acquired a new stake in shares of Braze in the 4th quarter worth $50,000,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

Braze Stock Up 3.4 %

Shares of BRZE stock traded up $1.08 during trading hours on Friday, hitting $32.41. 761,635 shares of the company were exchanged, compared to its average volume of 1,238,664. The firm has a fifty day moving average of $33.22 and a 200 day moving average of $37.63. Braze, Inc. has a 1 year low of $27.45 and a 1 year high of $48.33. The firm has a market cap of $3.39 billion, a PE ratio of -28.43 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. Analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BRZE shares. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Braze in a report on Friday, March 28th. Canaccord Genuity Group increased their target price on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Citigroup raised their price target on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. Piper Sandler cut their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Stephens began coverage on Braze in a research note on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Braze has a consensus rating of "Buy" and a consensus target price of $51.25.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 4,167 shares of the company'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 completion of the sale, the general counsel now owns 248,999 shares of the company's stock, valued at $7,713,989.02. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the transaction, the chief technology officer now owns 157,810 shares of the company's stock, valued at $6,441,804.20. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,937 shares of company stock worth $2,235,381 over the last three months. 24.03% of the stock is 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.