By otakuyassine3@gmail.com 
Corebridge Financial Inc. cut its position in shares of Braze, Inc. (NASDAQ:BRZE – Free Report) by 7.0% during the 4th quarter, Holdings Channel reports. The firm owned 32,779 shares of the company’s stock after selling 2,474 shares during the quarter. Corebridge Financial Inc.’s holdings in Braze were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of BRZE. Harbor Capital Advisors Inc. increased its position in Braze by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock worth $453,000 after buying an additional 346 shares during the last quarter. KBC Group NV boosted its stake in shares of Braze by 39.7% during the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after acquiring an additional 832 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Braze by 8,436.4% during the 4th 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. bought a new stake in Braze in the 4th quarter valued at $47,000. Finally, Arizona State Retirement System boosted its position in Braze by 7.2% during the fourth quarter. Arizona State Retirement System now owns 17,928 shares of the company’s stock worth $751,000 after purchasing an additional 1,203 shares during the period. 90.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on BRZE shares. 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. Piper Sandler raised their price objective 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. Stephens initiated coverage on Braze in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price on the stock. Citigroup lifted their price target on Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $53.00.
Read Our Latest Analysis on Braze
Braze Stock Down 9.8 %
NASDAQ:BRZE opened at $32.74 on Friday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $48.33. The stock’s 50-day simple moving average is $38.91 and its 200 day simple moving average is $38.00. The firm has a market capitalization of $3.39 billion, a PE ratio of -28.72 and a beta of 1.17.
Braze (NASDAQ:BRZE – Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.
Insider Activity at Braze
In related news, CEO William Magnuson sold 18,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the completion of the transaction, the chief executive officer now owns 564,766 shares in the company, valued at $23,053,748.12. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $43.13, for a total transaction of $64,695.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at $658,551.97. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock valued at $3,904,111 in the last 90 days. 24.03% of the stock is owned by corporate insiders.
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.
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