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

Wellington Management Group LLP bought a new position in Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,193,893 shares of the company’s stock, valued at approximately $50,000,000.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Braze by 8,436.4% in the 4th 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. acquired a new position in Braze during the 4th quarter worth approximately $47,000. Plato Investment Management Ltd purchased a new position in Braze in the 4th quarter worth approximately $115,000. KBC Group NV grew its position in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after acquiring an additional 832 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Braze during the fourth quarter valued at approximately $165,000. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BRZE has been the topic of several analyst reports. Stephens started coverage on shares of Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price target on the stock. Macquarie increased their price target on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Braze in a research note on Friday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Braze in a report on Friday, March 28th. Finally, Piper Sandler boosted their target price on shares of Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Stock Performance

Shares of BRZE stock opened at $30.98 on Friday. The stock has a market cap of $3.24 billion, a PE ratio of -27.18 and a beta of 1.13. The business’s fifty day moving average is $38.61 and its 200-day moving average is $37.99. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE) last issued 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. The company 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%. Braze’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. Equities research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Braze

In related news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $633,052.74. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jonathan Hyman sold 5,210 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total value of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at approximately $6,441,804.20. This trade represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,970 shares of company stock valued at $3,904,111. Corporate 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.