JPMorgan Chase & Co. Has $96.71 Million Position in Braze, Inc. (NASDAQ:BRZE)

JPMorgan Chase & Co. lifted its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,309,244 shares of the company's stock after buying an additional 500,667 shares during the quarter. JPMorgan Chase & Co. owned about 2.23% of Braze worth $96,711,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Braze during the 4th quarter valued at $47,000. Plato Investment Management Ltd bought a new position in shares of Braze during the 4th quarter valued at $115,000. KBC Group NV lifted its stake in shares of Braze by 39.7% in 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 bought a new stake in Braze in the fourth quarter worth $165,000. Institutional investors own 90.47% of the company's stock.

Braze Stock Down 2.7 %

NASDAQ:BRZE traded down $0.84 during trading hours on Monday, reaching $30.14. The company had a trading volume of 1,759,154 shares, compared to its average volume of 1,211,107. The stock has a 50-day moving average of $38.30 and a two-hundred day moving average of $37.97. Braze, Inc. has a one year low of $28.59 and a one year high of $48.33. The firm has a market capitalization of $3.15 billion, a PE ratio of -26.44 and a beta of 1.13.

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Braze (NASDAQ:BRZE - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million during 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 firm's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. As a group, sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer restated an "outperform" rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Piper Sandler increased their price objective on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Wells Fargo & Company restated an "overweight" rating and issued a $55.00 target price (up from $50.00) on shares of Braze in a report on Friday, March 28th. William Blair reaffirmed an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group lifted their price target on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $53.00.

Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the sale, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the completion of the transaction, the general counsel now directly owns 189,520 shares of the company's stock, valued at $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. Over the last 90 days, insiders sold 63,270 shares of company stock worth $2,643,182. Insiders own 24.03% of the company's stock.

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.