Renaissance Technologies LLC Has $3.16 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Renaissance Technologies LLC trimmed its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 64.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,348 shares of the company's stock after selling 139,352 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Braze worth $3,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its holdings in shares of Braze by 9,188.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze during the fourth quarter worth about $47,000. Plato Investment Management Ltd acquired a new stake in Braze during the fourth quarter worth about $115,000. Finally, KBC Group NV raised its stake 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 acquiring an additional 832 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William Magnuson sold 18,050 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 4,167 shares of the 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 directly owns 248,999 shares of the company's stock, valued at approximately $7,713,989.02. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,937 shares of company stock worth $2,235,381 in the last quarter. Corporate insiders own 24.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the stock a "buy" rating in a research note on Friday, March 28th. Piper Sandler dropped their price target 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. DA Davidson dropped their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Stephens initiated coverage on shares of Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Stock Up 0.8 %

Braze stock traded up $0.24 during midday trading on Tuesday, hitting $31.65. 77,745 shares of the stock were exchanged, compared to its average volume of 1,234,048. The company has a fifty day simple moving average of $33.81 and a two-hundred day simple moving average of $37.66. The stock has a market capitalization of $3.31 billion, a PE ratio of -27.78 and a beta of 1.13. Braze, Inc. has a 52 week low of $27.45 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter in the prior year, the business earned ($0.04) EPS. Braze's quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities research 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.