Vanguard Group Inc. Purchases 1,476,423 Shares of Braze, Inc. (NASDAQ:BRZE)

Vanguard Group Inc. increased its holdings in Braze, Inc. (NASDAQ:BRZE - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,464,161 shares of the company's stock after acquiring an additional 1,476,423 shares during the quarter. Vanguard Group Inc. owned about 8.18% of Braze worth $354,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake 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 worth $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Braze during the 4th quarter valued at about $47,000. Plato Investment Management Ltd bought a new stake in Braze during the 4th quarter valued at about $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 valued at $123,000 after purchasing an additional 832 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Braze in the fourth quarter worth about $165,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.30, for a total transaction of $61,950.00. Following the transaction, the director now directly owns 15,269 shares of the company's stock, valued at $630,609.70. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Susan Wiseman sold 4,167 shares of the business'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 transaction, the general counsel now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,437 shares of company stock worth $2,772,276. 24.03% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

BRZE has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Braze in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a "buy" rating in a report on Friday, March 28th. Piper Sandler upped their price target on Braze from $40.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Wells Fargo & Company reiterated an "overweight" rating and issued a $55.00 price objective (up from $50.00) on shares of Braze in a report on Friday, March 28th. Finally, DA Davidson restated a "buy" rating and set a $50.00 target price on shares of Braze in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $53.00.

Braze Stock Down 1.4 %

NASDAQ BRZE traded down $0.42 during trading hours on Tuesday, reaching $29.72. The company's stock had a trading volume of 1,272,711 shares, compared to its average volume of 1,212,632. Braze, Inc. has a 1 year low of $28.59 and a 1 year high of $48.33. The firm's 50-day moving average price is $37.62 and its 200-day moving average price is $37.86. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -26.07 and a beta of 1.13.

Braze (NASDAQ:BRZE - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business's revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. Equities research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.

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.