Marshall Wace LLP Sells 251,131 Shares of Braze, Inc. (NASDAQ:BRZE)

Marshall Wace LLP lessened its position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 514,141 shares of the company's stock after selling 251,131 shares during the quarter. Marshall Wace LLP owned 0.50% of Braze worth $21,532,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mariner LLC acquired a new stake in Braze during the fourth quarter worth about $383,000. Barclays PLC grew its stake in shares of Braze by 9.4% during the 4th quarter. Barclays PLC now owns 117,498 shares of the company's stock worth $4,921,000 after purchasing an additional 10,140 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Braze during the 4th quarter valued at approximately $6,887,000. Raymond James Financial Inc. acquired a new position in shares of Braze in the 4th quarter valued at $1,197,000. Finally, Legal & General Group Plc boosted its holdings in Braze by 8.0% during the fourth quarter. Legal & General Group Plc now owns 66,713 shares of the company's stock worth $2,794,000 after buying an additional 4,964 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. DA Davidson dropped their price target on shares of Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a research note on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Raymond James increased their target price on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Finally, Piper Sandler lowered their price target on Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $51.25.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was 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 in the company, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares in the company, valued at approximately $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,937 shares of company stock worth $2,707,581 in the last quarter. 24.03% of the stock is owned by company insiders.

Braze Stock Performance

Shares of BRZE stock traded up $0.41 on Wednesday, reaching $28.34. 1,290,655 shares of the company's stock traded hands, compared to its average volume of 1,232,635. The company has a market capitalization of $2.97 billion, a P/E ratio of -24.86 and a beta of 1.13. Braze, Inc. has a 12-month low of $27.45 and a 12-month high of $48.33. The business's 50 day moving average price is $34.70 and its two-hundred day moving average price is $37.61.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share 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. The business's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. Research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

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.