1,193,893 Shares in Braze, Inc. (NASDAQ:BRZE) Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new position in Braze, Inc. (NASDAQ:BRZE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,193,893 shares of the company's stock, valued at approximately $50,000,000. Wellington Management Group LLP owned about 1.15% of Braze as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BRZE. Vanguard Group Inc. increased its position in Braze by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company's stock worth $354,479,000 after buying an additional 1,476,423 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Braze by 27.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company's stock worth $96,711,000 after acquiring an additional 500,667 shares during the period. State Street Corp boosted its holdings in shares of Braze by 21.5% during the third quarter. State Street Corp now owns 1,575,701 shares of the company's stock worth $50,958,000 after acquiring an additional 279,050 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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. Finally, Norges Bank bought a new stake in shares of Braze in the fourth quarter valued at approximately $62,639,000. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BRZE has been the subject of several research analyst reports. DA Davidson restated a "buy" rating and set a $50.00 price objective on shares of Braze in a research report on Wednesday, March 26th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Braze in a report on Friday, March 28th. Raymond James upped their price target on shares of Braze from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Canaccord Genuity Group upped their price target on shares of Braze from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Macquarie upped their price target on shares of Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Braze currently has an average rating of "Buy" and an average price target of $53.00.

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Braze Stock Down 6.0 %

BRZE traded down $1.98 on Thursday, hitting $30.92. The company's stock had a trading volume of 123,771 shares, compared to its average volume of 1,215,630. The company's 50 day simple moving average is $37.10 and its 200-day simple moving average is $37.82. The firm has a market cap of $3.24 billion, a P/E ratio of -27.23 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 released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS 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 period last year, the firm earned ($0.04) EPS. Braze's revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Braze

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $47.22, for a total value of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares in the company, valued at approximately $8,949,134.40. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Magnuson sold 18,050 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now directly owns 564,766 shares of the company's stock, valued at approximately $23,053,748.12. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,437 shares of company stock valued at $2,772,276. Insiders own 24.03% of the company's stock.

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.