Braze, Inc. (NASDAQ:BRZE) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 23.5% during the fourth quarter, HoldingsChannel reports. The firm owned 5,993 shares of the company’s stock after selling 1,844 shares during the quarter. Virtu Financial LLC’s holdings in Braze were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings 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 valued at $39,000 after buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze in the 4th quarter worth $47,000. Plato Investment Management Ltd acquired a new stake in Braze during the 4th quarter worth about $115,000. KBC Group NV grew its stake in Braze by 39.7% during the 4th 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 last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Braze in the fourth quarter valued at about $165,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson reiterated a “buy” rating and issued a $50.00 target price on shares of Braze in a research report on Wednesday. Stephens initiated coverage on shares of Braze in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Piper Sandler raised their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.00.

Braze Stock Performance

NASDAQ:BRZE opened at $37.51 on Friday. The stock has a market capitalization of $3.88 billion, a PE ratio of -32.90 and a beta of 1.17. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $48.33. The company has a fifty day moving average of $39.66 and a two-hundred day moving average of $37.98.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts forecast that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total value of $64,695.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at $658,551.97. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan Wiseman sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 over the last quarter. 24.03% of the stock is currently owned by corporate 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.