Canada Pension Plan Investment Board Has $7.28 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Canada Pension Plan Investment Board raised its stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 56.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,700 shares of the company's stock after buying an additional 62,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.17% of Braze worth $7,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd grew its stake in Braze by 9,188.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Braze during the 4th quarter valued at about $47,000. Plato Investment Management Ltd purchased a new position in shares of Braze during the 4th quarter worth about $115,000. Finally, KBC Group NV boosted its position in shares of Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after acquiring an additional 832 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BRZE shares. Piper Sandler cut their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday. Stephens initiated coverage on Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a research report on Friday, March 28th. Canaccord Genuity Group boosted their price objective 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. Finally, DA Davidson reduced their target price on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $51.25.

Braze Stock Performance

Shares of Braze stock traded up $0.89 during trading hours on Friday, reaching $31.22. The company's stock had a trading volume of 786,676 shares, compared to its average volume of 1,235,848. The stock has a market cap of $3.27 billion, a P/E ratio of -27.39 and a beta of 1.13. Braze, Inc. has a one year low of $27.45 and a one year high of $48.33. The company's 50 day simple moving average is $34.21 and its 200 day simple moving average is $37.54.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Magnuson sold 18,050 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the sale, the chief executive officer now owns 564,766 shares of the company's stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Pankaj Malik sold 2,585 shares of Braze stock in a transaction that occurred on 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 directly owns 52,199 shares in the company, valued at $2,130,763.18. This represents a 4.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,937 shares of company stock valued at $2,707,581 over the last 90 days. 24.03% of the stock is currently owned by company insiders.

About Braze

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.