Neuberger Berman Group LLC Makes New $6.89 Million Investment in Braze, Inc. (NASDAQ:BRZE)

Neuberger Berman Group LLC bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 164,439 shares of the company's stock, valued at approximately $6,887,000. Neuberger Berman Group LLC owned about 0.16% of Braze at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings in shares of Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock worth $35,000 after buying an additional 827 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after acquiring an additional 928 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze during the 4th quarter worth $47,000. Plato Investment Management Ltd purchased a new position in Braze in the 4th quarter worth $115,000. Finally, KBC Group NV raised its position in Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $123,000 after buying an additional 832 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BRZE shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 price target (up from $50.00) 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. William Blair reissued an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. DA Davidson dropped their price target on Braze from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Raymond James increased their target price on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $52.50.

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Braze Stock Performance

BRZE traded down $0.31 during midday trading on Wednesday, reaching $28.70. 529,541 shares of the company were exchanged, compared to its average volume of 1,219,952. The stock's 50-day simple moving average is $36.03 and its 200 day simple moving average is $37.72. Braze, Inc. has a one year low of $27.75 and a one year high of $48.33. The stock has a market capitalization of $3.00 billion, a P/E ratio of -25.18 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The firm 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 business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 10,000 shares of the firm's stock in a transaction 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 sale, the general counsel now owns 189,520 shares of the company's stock, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,937 shares of company stock valued at $2,707,581. 24.03% of the stock is owned by insiders.

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.