Trexquant Investment LP Lowers Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Trexquant Investment LP trimmed its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 77.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,584 shares of the company's stock after selling 330,235 shares during the quarter. Trexquant Investment LP owned 0.09% of Braze worth $3,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. purchased a new position in Braze during the 4th quarter valued at about $47,000. Plato Investment Management Ltd bought a new position in Braze during the 4th quarter valued at approximately $115,000. KBC Group NV lifted its holdings in Braze by 39.7% in 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 period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Braze in the 4th quarter worth approximately $165,000. 90.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 7,149 shares of Braze stock in a transaction on 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 directly owns 177,247 shares of the company's stock, valued at $7,235,222.54. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company's stock, valued at approximately $658,551.97. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,437 shares of company stock valued at $2,772,276 in the last 90 days. Insiders own 24.03% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently commented on BRZE. Macquarie raised their price target on Braze from $30.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their target price on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Raymond James lifted their price objective on Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Stephens began coverage on Braze in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $55.00 price objective (up previously from $50.00) on shares of Braze in a research report on Friday, March 28th. One investment 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, the stock presently has an average rating of "Buy" and a consensus price target of $53.00.

Braze Stock Performance

Shares of NASDAQ BRZE traded down $2.50 during trading on Thursday, hitting $30.41. The company had a trading volume of 181,522 shares, compared to its average volume of 1,215,900. The stock has a 50 day simple moving average of $37.10 and a 200 day simple moving average of $37.82. The firm has a market capitalization of $3.18 billion, a P/E ratio of -26.69 and a beta of 1.13. Braze, Inc. has a 12 month low of $28.59 and a 12 month high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share 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 company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. Braze's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

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.