Oribel Capital Management LP Invests $13.11 Million in Braze, Inc. (NASDAQ:BRZE)

Oribel Capital Management LP bought a new stake in Braze, Inc. (NASDAQ:BRZE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 313,000 shares of the company's stock, valued at approximately $13,108,000. Oribel Capital Management LP owned 0.30% of Braze as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of BRZE. EverSource Wealth Advisors LLC boosted its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after purchasing an additional 928 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Braze in the fourth quarter valued at approximately $47,000. Plato Investment Management Ltd acquired a new stake in Braze during the fourth quarter worth approximately $115,000. KBC Group NV increased its stake 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 acquiring an additional 832 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Braze in the 4th quarter valued at $165,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 4,167 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the sale, the general counsel now owns 248,999 shares of the company's stock, valued at $7,713,989.02. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 7,149 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $291,822.18. Following the transaction, the insider now owns 177,247 shares in the company, valued at $7,235,222.54. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,437 shares of company stock valued at $2,772,276 over the last quarter. Insiders own 24.03% of the company's stock.

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Braze Stock Performance

Shares of BRZE traded down $1.94 during mid-day trading on Friday, reaching $28.45. 1,044,550 shares of the company were exchanged, compared to its average volume of 1,216,684. The business has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $37.80. The stock has a market capitalization of $2.98 billion, a PE ratio of -24.96 and a beta of 1.13. Braze, Inc. has a 52 week low of $27.77 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million during the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the business earned ($0.04) EPS. The company's revenue was up 22.4% compared to the same quarter last year. On average, analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Braze in a report on Friday, March 28th. Citigroup increased their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Canaccord Genuity Group boosted their target price 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. Wells Fargo & Company reiterated an "overweight" rating and set a $55.00 price target (up previously from $50.00) on shares of Braze in a research report on Friday, March 28th. Finally, William Blair reissued an "outperform" rating on shares of Braze in a research note on Thursday, December 19th. One 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, the company presently has an average rating of "Buy" and a consensus target price of $53.00.

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.