Geode Capital Management LLC Raises Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Geode Capital Management LLC raised its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,535,965 shares of the company's stock after buying an additional 38,777 shares during the period. Geode Capital Management LLC owned 1.48% of Braze worth $64,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in Braze in the fourth quarter valued at about $498,000. JPMorgan Chase & Co. grew its holdings in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Braze during the 4th quarter worth $708,000. Barclays PLC lifted its holdings in shares of Braze by 148.1% during the third quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after purchasing an additional 64,093 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in Braze by 27.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company's stock valued at $374,000 after acquiring an additional 1,938 shares during the last quarter. Institutional investors own 90.47% of the company's stock.

Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of the business's 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 $736,801.00. Following the completion of the transaction, the chief executive officer now directly owns 564,766 shares of the company's stock, valued at $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares in the company, valued at $8,949,134.40. This represents a 5.01 % 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 in the last three months. Company insiders own 24.03% of the company's stock.

Braze Price Performance

Shares of NASDAQ BRZE traded up $0.79 during mid-day trading on Friday, hitting $29.21. The company's stock had a trading volume of 1,005,433 shares, compared to its average volume of 1,225,835. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -25.62 and a beta of 1.13. Braze, Inc. has a one year low of $27.75 and a one year high of $48.33. The company's fifty day simple moving average is $35.51 and its 200-day simple moving average is $37.63.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings results 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 net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same period in the previous year, the firm posted ($0.04) EPS. The firm's revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

BRZE has been the topic of several research reports. Wells Fargo & Company reiterated an "overweight" rating and set a $55.00 price objective (up previously from $50.00) on shares of Braze in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a "buy" rating in a research note on Friday, March 28th. DA Davidson reduced their price objective on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday. Raymond James raised their price target on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Finally, William Blair reissued an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $52.50.

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.