Schonfeld Strategic Advisors LLC Takes Position in Braze, Inc. (NASDAQ:BRZE)

Schonfeld Strategic Advisors LLC acquired a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,000 shares of the company's stock, valued at approximately $12,564,000. Schonfeld Strategic Advisors LLC owned about 0.29% of Braze at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake 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 valued at $35,000 after buying an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after buying an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Braze in the fourth quarter worth $47,000. Finally, Plato Investment Management Ltd acquired a new stake in Braze in the fourth quarter valued at $115,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BRZE. Stephens began coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Piper Sandler cut their price objective on Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup lifted their target price on Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. DA Davidson dropped their price target on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Raymond James raised their target price on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus price target of $51.25.

Braze Price Performance

Braze stock traded down $0.12 during midday trading on Tuesday, reaching $31.59. The stock had a trading volume of 199,963 shares, compared to its average volume of 1,235,305. The firm's fifty day simple moving average is $33.11 and its two-hundred day simple moving average is $37.69. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -27.75 and a beta of 1.15. Braze, Inc. has a twelve month low of $27.45 and a twelve month high of $48.33.

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, topping 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 during the quarter, compared to analyst estimates of $155.72 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm's revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, CAO Pankaj Malik sold 2,585 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $105,519.70. Following the completion of the transaction, the chief accounting officer now owns 52,199 shares of the company's stock, valued at approximately $2,130,763.18. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Susan Wiseman sold 4,167 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the transaction, the general counsel now directly owns 248,999 shares in the company, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,937 shares of company stock valued at $2,235,381. Insiders own 24.03% of the company's stock.

Braze 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.