Price T Rowe Associates Inc. MD Grows Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Price T Rowe Associates Inc. MD increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 121.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,197,407 shares of the company's stock after purchasing an additional 1,203,149 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.12% of Braze worth $92,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. Vanguard Group Inc. raised its stake in shares of Braze by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock valued at $354,479,000 after buying an additional 1,476,423 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Braze by 27.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock valued at $96,711,000 after acquiring an additional 500,667 shares during the period. Invesco Ltd. boosted its position in Braze by 107.0% in the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company's stock worth $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Braze by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company's stock worth $64,340,000 after purchasing an additional 38,777 shares during the period. Finally, ShawSpring Partners LLC purchased a new position in shares of Braze during the 4th quarter valued at approximately $62,837,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Braze from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Canaccord Genuity Group raised their target price on Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 price target on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Citigroup raised their price objective on Braze from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, March 28th. Finally, Raymond James increased their target price on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. One 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 stock. According to data from MarketBeat.com, Braze currently has a consensus rating of "Buy" and an average target price of $51.25.

Braze Price Performance

Shares of Braze stock opened at $31.22 on Monday. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33. The stock has a market cap of $3.27 billion, a P/E ratio of -27.39 and a beta of 1.13. The stock's 50 day simple moving average is $34.00 and its 200-day simple moving average is $37.66.

Braze (NASDAQ:BRZE - Get Free Report) last issued its 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. 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 during the quarter, compared to analysts' expectations of $155.72 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. As a group, research analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Magnuson sold 18,050 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Susan Wiseman sold 3,925 shares of Braze 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 $160,218.50. Following the sale, the general counsel now directly owns 185,595 shares in the company, valued at approximately $7,575,987.90. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,937 shares of company stock worth $2,235,381. Insiders own 24.03% of the company's stock.

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.

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