Braze, Inc. (NASDAQ:BRZE) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,263,548 shares of the company's stock after selling 114,873 shares during the period. Alliancebernstein L.P. owned 2.19% of Braze worth $94,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BRZE. Charles Schwab Investment Management Inc. boosted its holdings in Braze by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company's stock valued at $16,486,000 after purchasing an additional 57,713 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Braze during the 4th quarter worth about $498,000. Holocene Advisors LP lifted its position in Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company's stock valued at $2,729,000 after buying an additional 29,123 shares during the last quarter. Geode Capital Management LLC boosted its stake in Braze by 18.1% during the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company's stock worth $48,428,000 after buying an additional 229,660 shares during the period. Finally, Vestcor Inc purchased a new position in Braze during the third quarter worth about $1,617,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Trading Down 1.8 %

Shares of NASDAQ BRZE traded down $0.56 during mid-day trading on Monday, reaching $30.42. The company had a trading volume of 609,313 shares, compared to its average volume of 1,206,540. Braze, Inc. has a 52-week low of $28.65 and a 52-week high of $48.33. The stock has a market cap of $3.18 billion, a P/E ratio of -26.79 and a beta of 1.13. The firm has a 50 day simple moving average of $38.61 and a two-hundred day simple moving average of $38.01.

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Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the company posted ($0.04) earnings per share. The business's quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the company's stock in a transaction on 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 owns 15,269 shares in the company, valued at $658,551.97. This represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares in the company, valued at approximately $7,235,222.54. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,270 shares of company stock worth $2,643,182. 24.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James increased their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, March 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $51.00 price objective on shares of Braze in a research note on Tuesday, December 10th. Macquarie increased their target price on Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Stephens began coverage on Braze in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Finally, Canaccord Genuity Group boosted their price target on shares of Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $53.00.

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.