Braze, Inc. (NASDAQ:BRZE) Shares Sold by Trexquant Investment LP

Trexquant Investment LP trimmed its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 77.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 94,584 shares of the company’s stock after selling 330,235 shares during the quarter. Trexquant Investment LP’s holdings in Braze were worth $3,961,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after buying an additional 1,476,423 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock valued at $96,711,000 after acquiring an additional 500,667 shares during the last quarter. State Street Corp raised its holdings in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company’s stock valued at $50,958,000 after acquiring an additional 279,050 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Braze by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company’s stock valued at $64,340,000 after acquiring an additional 38,777 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Braze in the fourth quarter worth approximately $62,639,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Transactions at Braze

In other Braze news, CTO Jonathan Hyman sold 5,210 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 $212,672.20. Following the sale, the chief technology officer now directly owns 157,810 shares in the company, valued at $6,441,804.20. This represents a 3.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Myles Kleeger sold 10,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.43, for a total transaction of $454,300.00. Following the completion of the transaction, the insider now owns 184,396 shares of the company’s stock, valued at approximately $8,377,110.28. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,970 shares of company stock valued at $3,904,111. 24.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BRZE shares. Macquarie raised their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. DA Davidson reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Wednesday, March 26th. Raymond James upped their price objective on shares of Braze from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 target price (up from $50.00) on shares of Braze in a research note on Friday, March 28th. Finally, William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, December 19th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $53.00.

Braze Stock Down 5.4 %

Shares of NASDAQ BRZE opened at $30.98 on Friday. The business’s 50 day moving average is $38.61 and its two-hundred day moving average is $37.99. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $48.33. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -27.18 and a beta of 1.13.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) 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 firm had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.

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.