Price T Rowe Associates Inc. MD Raises Stake in Braze, Inc. (NASDAQ:BRZE)

Price T Rowe Associates Inc. MD increased its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 121.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,197,407 shares of the company's stock after buying an additional 1,203,149 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.12% of Braze worth $92,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in Braze by 3.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company's stock valued at $453,000 after buying an additional 346 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock worth $27,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after purchasing an additional 827 shares during the period. KBC Group NV lifted its position in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock valued at $123,000 after purchasing an additional 832 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after purchasing an additional 928 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Trading Up 3.4 %

Shares of Braze stock traded up $1.08 during mid-day trading on Friday, hitting $32.41. 761,635 shares of the stock were exchanged, compared to its average volume of 1,238,664. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.43 and a beta of 1.13. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33. The company has a 50-day simple moving average of $33.22 and a 200 day simple moving average of $37.63.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same period in the previous year, the firm posted ($0.04) EPS. Braze's revenue was up 22.4% on a year-over-year basis. Equities research analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. DA Davidson reduced their price target on Braze from $50.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Raymond James upped their price target 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. Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective on the stock. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Canaccord Genuity Group boosted their price target on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. One equities research 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 company's stock. According to data from MarketBeat, Braze presently has a consensus rating of "Buy" and an average price target of $51.25.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 4,167 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $7,713,989.02. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the business'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 sale, the chief technology officer now directly owns 157,810 shares of the company's stock, valued at $6,441,804.20. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,937 shares of company stock valued at $2,235,381. Insiders own 24.03% of the company's stock.

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.