Paloma Partners Management Co Purchases New Position in Braze, Inc. (NASDAQ:BRZE)

Paloma Partners Management Co purchased a new stake in Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 123,724 shares of the company’s stock, valued at approximately $5,182,000.

A number of other institutional investors have also recently made changes to their positions in BRZE. ShawSpring Partners LLC purchased a new stake in Braze in the 4th quarter worth about $62,837,000. Norges Bank purchased a new stake in Braze in the 4th quarter worth about $62,639,000. Vanguard Group Inc. raised its position in Braze by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after purchasing an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD raised its position in Braze by 121.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after purchasing an additional 1,203,149 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Braze in the 4th quarter worth about $50,000,000. Institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Shares of BRZE stock opened at $31.41 on Tuesday. The firm has a market cap of $3.29 billion, a PE ratio of -27.55 and a beta of 1.13. The company has a 50-day moving average of $33.81 and a two-hundred day moving average of $37.66. Braze, Inc. has a 1-year low of $27.45 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 (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, CTO Jonathan Hyman sold 5,210 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 $212,672.20. Following the sale, the chief technology officer now owns 157,810 shares of the company’s stock, valued at $6,441,804.20. This trade represents a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Myles Kleeger sold 7,149 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 transaction of $291,822.18. Following the completion of the sale, the insider now directly owns 177,247 shares in the company, valued at approximately $7,235,222.54. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BRZE has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the stock a “buy” rating in a research report on Friday, March 28th. Raymond James raised their target price on shares of Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Canaccord Genuity Group raised their target price on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Braze in a research report on Friday, March 28th. One investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $51.25.

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.