Parallel Advisors LLC Has $64,000 Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Parallel Advisors LLC reduced its stake in Braze, Inc. (NASDAQ:BRZEFree Report) by 29.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,211 shares of the company’s stock after selling 497 shares during the quarter. Parallel Advisors LLC’s holdings in Braze were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. AGF Management Ltd. bought a new stake in shares of Braze in the 4th quarter valued at $3,282,000. Principal Financial Group Inc. bought a new position in shares of Braze in the 3rd quarter worth about $4,377,000. Morgan Stanley boosted its position in shares of Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Braze during the third quarter worth approximately $283,000. Finally, Bailard Inc. increased its holdings in Braze by 409.7% in the fourth quarter. Bailard Inc. now owns 48,578 shares of the company’s stock worth $2,581,000 after purchasing an additional 39,048 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BRZE shares. Canaccord Genuity Group dropped their price target on Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a research report on Thursday, March 28th. Wells Fargo & Company lowered their price objective on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Scotiabank reduced their price objective on shares of Braze from $58.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday. Finally, DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of Braze in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average price target of $61.12.

Get Our Latest Stock Report on Braze

Insider Buying and Selling

In other Braze news, CEO William Magnuson sold 17,839 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at $25,835,868. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Braze news, CEO William Magnuson sold 17,839 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the transaction, the chief executive officer now owns 618,675 shares in the company, valued at $25,835,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 3,833 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $160,066.08. Following the sale, the general counsel now owns 224,925 shares in the company, valued at $9,392,868. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,114 shares of company stock valued at $3,344,997. 24.03% of the stock is owned by company insiders.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $36.78 on Friday. Braze, Inc. has a 1 year low of $33.16 and a 1 year high of $61.53. The company has a market capitalization of $3.71 billion, a PE ratio of -27.65 and a beta of 1.06. The business has a fifty day moving average price of $41.30 and a two-hundred day moving average price of $49.64.

Braze (NASDAQ:BRZEGet Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. The company had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. Sell-side analysts anticipate that Braze, Inc. will post -1.18 earnings per share for the current year.

Braze Profile

(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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