Sei Investments Co. Trims Stake in Braze, Inc. (NASDAQ:BRZE)

Sei Investments Co. lowered its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 60.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,067 shares of the company's stock after selling 67,903 shares during the period. Sei Investments Co.'s holdings in Braze were worth $1,750,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BRZE. CenterBook Partners LP purchased a new position in shares of Braze during the 4th quarter valued at approximately $453,000. Seven Eight Capital LP grew its position in shares of Braze by 251.4% in the fourth quarter. Seven Eight Capital LP now owns 21,297 shares of the company's stock valued at $1,132,000 after purchasing an additional 15,237 shares during the period. Newlands Management Operations LLC increased its stake in shares of Braze by 33.3% during the fourth quarter. Newlands Management Operations LLC now owns 21,116 shares of the company's stock worth $1,122,000 after purchasing an additional 5,279 shares in the last quarter. Oracle Alpha Inc. acquired a new position in shares of Braze during the 4th quarter worth about $476,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Braze in the 4th quarter valued at about $5,397,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Braze Stock Up 1.6 %

Shares of BRZE traded up $0.50 during trading on Friday, reaching $31.08. 1,185,567 shares of the company traded hands, compared to its average volume of 1,009,420. The stock has a 50-day simple moving average of $38.84 and a 200-day simple moving average of $39.96. The stock has a market cap of $3.16 billion, a PE ratio of -24.28 and a beta of 1.03. Braze, Inc. has a twelve month low of $30.36 and a twelve month high of $61.53.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million for the quarter, compared to analysts' expectations of $141.32 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The firm's revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts predict that Braze, Inc. will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $42.18, for a total transaction of $189,810.00. Following the sale, the chief financial officer now directly owns 242,627 shares in the company, valued at $10,234,006.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $42.18, for a total transaction of $189,810.00. Following the sale, the chief financial officer now owns 242,627 shares in the company, valued at $10,234,006.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the sale, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,465 shares of company stock worth $8,023,190 over the last three months. Company insiders own 24.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BRZE shares. DA Davidson cut their price objective on Braze from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, September 24th. JMP Securities reiterated a "market outperform" rating and set a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. Scotiabank upgraded Braze from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Braze currently has a consensus rating of "Buy" and a consensus price target of $59.18.

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.