Sei Investments Co. Sells 25,090 Shares of Braze, Inc. (NASDAQ:BRZE)

Sei Investments Co. cut its holdings in shares of Braze, Inc. (NASDAQ:BRZE - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,342 shares of the company's stock after selling 25,090 shares during the period. Sei Investments Co. owned 0.07% of Braze worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Braze by 146.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company's stock valued at $58,489,000 after acquiring an additional 1,075,998 shares during the last quarter. State Street Corp increased its holdings in Braze by 21.5% in the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock valued at $50,958,000 after purchasing an additional 279,050 shares during the last quarter. Geode Capital Management LLC lifted its stake in Braze by 18.1% in the third quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company's stock valued at $48,428,000 after buying an additional 229,660 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Braze by 20.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 772,268 shares of the company's stock worth $32,343,000 after buying an additional 129,298 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company's stock worth $3,472,000 after buying an additional 64,093 shares during the period. Institutional investors own 90.47% of the company's stock.

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Braze Trading Up 10.7 %

Shares of NASDAQ BRZE traded up $3.18 during mid-day trading on Wednesday, hitting $32.90. The company had a trading volume of 2,488,911 shares, compared to its average volume of 1,219,888. The firm has a 50-day simple moving average of $37.10 and a two-hundred day simple moving average of $37.82. The company has a market capitalization of $3.44 billion, a PE ratio of -28.86 and a beta of 1.13. Braze, Inc. has a one year low of $28.59 and a one year high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same period last year, the company earned ($0.04) earnings per share. The business's revenue was up 22.4% compared to the same quarter last year. Sell-side analysts expect that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Susan Wiseman sold 4,167 shares of Braze stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $30.98, for a total value of $129,093.66. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares in the company, valued at approximately $7,235,222.54. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,437 shares of company stock worth $2,772,276. Insiders own 24.03% of the company's stock.

Analyst Ratings Changes

BRZE has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Braze in a research report on Friday, March 28th. William Blair reiterated an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the company a "buy" rating in a report on Friday, March 28th. Piper Sandler raised their price objective on Braze from $40.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 10th. Finally, Oppenheimer reiterated an "outperform" rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Braze presently has a consensus rating of "Buy" and a consensus target price of $53.00.

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.