Proficio Capital Partners LLC Invests $498,000 in Braze, Inc. (NASDAQ:BRZE)

Proficio Capital Partners LLC purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,894 shares of the company's stock, valued at approximately $498,000.

Several other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Braze by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 537,946 shares of the company's stock valued at $22,529,000 after acquiring an additional 28,179 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Braze in the fourth quarter valued at approximately $115,000. SBI Securities Co. Ltd. acquired a new position in Braze during the fourth quarter worth $47,000. Sincerus Advisory LLC purchased a new position in Braze in the fourth quarter worth $854,000. Finally, Handelsbanken Fonder AB lifted its holdings in Braze by 73.1% in the fourth quarter. Handelsbanken Fonder AB now owns 16,100 shares of the company's stock valued at $674,000 after acquiring an additional 6,800 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Price Performance

Shares of NASDAQ BRZE traded up $0.81 during midday trading on Friday, reaching $37.51. 5,430,505 shares of the company traded hands, compared to its average volume of 1,224,687. The stock has a 50-day moving average price of $39.80 and a 200 day moving average price of $37.97. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $48.33.

Remove Ads

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $155.72 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stephens assumed coverage on Braze in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $55.00 price target (up from $50.00) on shares of Braze in a research note on Friday. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a "buy" rating in a report on Friday. William Blair reaffirmed an "outperform" rating on shares of Braze in a research report on Thursday, December 19th. 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. One equities research 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 stock. Based on data from MarketBeat.com, Braze has an average rating of "Buy" and a consensus price target of $53.00.

Insider Activity at Braze

In other Braze news, General Counsel Susan Wiseman sold 3,486 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now directly owns 182,109 shares of the company's stock, valued at approximately $7,288,002.18. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of Braze stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the transaction, the insider now directly owns 168,882 shares in the company, valued at approximately $6,775,545.84. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock valued at $3,841,921 over the last ninety days. Insiders own 24.03% of the company's stock.

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.