Marshall Wace LLP Lowers Stock Position in Braze, Inc. (NASDAQ:BRZE)

Marshall Wace LLP lessened its stake in Braze, Inc. (NASDAQ:BRZEFree Report) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,141 shares of the company’s stock after selling 251,131 shares during the period. Marshall Wace LLP owned approximately 0.50% of Braze worth $21,532,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after acquiring an additional 1,476,423 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 500,667 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Braze by 107.0% in the 4th quarter. Invesco Ltd. now owns 1,963,841 shares of the company’s stock worth $82,246,000 after purchasing an additional 1,015,007 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Braze by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,535,965 shares of the company’s stock valued at $64,340,000 after purchasing an additional 38,777 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Braze during the 4th quarter valued at about $62,639,000. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

BRZE stock opened at $29.21 on Friday. Braze, Inc. has a 1 year low of $27.75 and a 1 year high of $48.33. The firm has a 50-day moving average of $35.24 and a 200 day moving average of $37.65. The company has a market cap of $3.06 billion, a P/E ratio of -25.62 and a beta of 1.13.

Braze (NASDAQ:BRZEGet Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts expect that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Braze news, General Counsel Susan Wiseman sold 10,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total value of $472,200.00. Following the sale, the general counsel now directly owns 189,520 shares of the company’s stock, 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 SEC, which can be accessed through this link. Also, CTO Jonathan Hyman sold 5,210 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $212,672.20. Following the transaction, the chief technology officer now owns 157,810 shares of the company’s stock, valued at $6,441,804.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,937 shares of company stock worth $2,707,581. Insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

BRZE has been the topic of a number of recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 price target (up from $50.00) on shares of Braze in a research report on Friday, March 28th. Canaccord Genuity Group increased their target price on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Stephens assumed coverage on shares of Braze in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. 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. Finally, Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a “buy” rating in a report on Friday, March 28th. One research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $52.50.

Check Out Our Latest Stock Report on Braze

About Braze

(Free Report)

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.

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Institutional Ownership by Quarter for Braze (NASDAQ:BRZE)

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