KLP Kapitalforvaltning AS Takes $549,000 Position in Braze, Inc. (NASDAQ:BRZE)

KLP Kapitalforvaltning AS bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 13,100 shares of the company's stock, valued at approximately $549,000.

Other institutional investors have also recently bought and sold shares of the company. Sciencast Management LP acquired a new stake in shares of Braze in the fourth quarter valued at about $576,000. Xponance Inc. acquired a new stake in Braze in the 4th quarter valued at approximately $201,000. Intech Investment Management LLC lifted its holdings in shares of Braze by 62.9% during the fourth quarter. Intech Investment Management LLC now owns 33,902 shares of the company's stock worth $1,420,000 after buying an additional 13,096 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Braze in the fourth quarter worth $708,000. Finally, Cibc World Markets Corp acquired a new position in Braze during the 4th quarter valued at $258,000. Institutional investors own 90.47% of the company's stock.

Braze Stock Down 2.7 %

NASDAQ:BRZE traded down $0.84 during mid-day trading on Monday, reaching $30.14. 1,759,154 shares of the company were exchanged, compared to its average volume of 1,211,107. Braze, Inc. has a 12 month low of $28.65 and a 12 month high of $48.33. The stock has a market cap of $3.15 billion, a PE ratio of -26.44 and a beta of 1.13. The company has a fifty day moving average of $38.30 and a 200 day moving average of $37.97.

Braze (NASDAQ:BRZE - Get Free Report) last posted 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. The business had revenue of $160.40 million for the quarter, compared to analysts' expectations of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. On average, equities research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.

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Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of Braze stock in a transaction dated 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 directly owns 189,520 shares in the company, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Magnuson sold 18,050 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the sale, the chief executive officer now owns 564,766 shares of the company's stock, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,270 shares of company stock valued at $2,643,182 over the last ninety days. Insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRZE. William Blair restated an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Oppenheimer reiterated an "outperform" rating and issued a $51.00 price objective on shares of Braze in a research report on Tuesday, December 10th. Canaccord Genuity Group upped their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Raymond James lifted their price target on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. Finally, Stephens started coverage on shares of Braze in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $53.00.

Braze 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.