Schonfeld Strategic Advisors LLC Purchases Shares of 300,000 Braze, Inc. (NASDAQ:BRZE)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 300,000 shares of the company's stock, valued at approximately $12,564,000. Schonfeld Strategic Advisors LLC owned 0.29% of Braze as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, CTO Jonathan Hyman sold 5,210 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now directly owns 157,810 shares of the company's stock, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 3,925 shares of Braze stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $160,218.50. Following the completion of the sale, the general counsel now directly owns 185,595 shares of the company's stock, valued at approximately $7,575,987.90. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,937 shares of company stock worth $2,235,381 in the last three months. 24.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BRZE. Wells Fargo & Company cut their target price on Braze from $55.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Citigroup increased their target price on shares of Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a research note on Friday, March 28th. Piper Sandler reduced 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Stock Up 3.4 %

Shares of BRZE traded up $1.08 during trading hours on Friday, reaching $32.41. 761,635 shares of the company traded hands, compared to its average volume of 1,238,664. Braze, Inc. has a 12 month low of $27.45 and a 12 month high of $48.33. The company's fifty day moving average price is $33.22 and its two-hundred day moving average price is $37.63. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.43 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. During the same period in the previous year, the firm posted ($0.04) EPS. The business's revenue was up 22.4% on a year-over-year basis. On average, analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

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.