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

Marshall Wace LLP lowered its position in Braze, Inc. (NASDAQ:BRZE) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 428,386 shares of the company’s stock after selling 60,117 shares during the quarter. Marshall Wace LLP owned about 0.42% of Braze worth $16,639,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BRZE. M&G Plc acquired a new position in Braze during the 1st quarter worth $6,724,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Braze in the fourth quarter valued at approximately $5,397,000. Vanguard Group Inc. grew its position in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Braze in the 1st quarter valued at approximately $5,714,000. Finally, Swiss National Bank boosted its holdings in Braze by 14.3% in the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after purchasing an additional 13,300 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Price Performance

Braze stock opened at $33.22 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -25.95 and a beta of 1.07. The firm has a fifty day moving average price of $39.73 and a two-hundred day moving average price of $40.82. Braze, Inc. has a fifty-two week low of $31.80 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same period in the prior year, the business earned ($0.30) earnings per share. Braze’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, sell-side analysts expect that Braze, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRZE. Barclays reduced their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. UBS Group decreased their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $51.00 target price on shares of Braze in a research note on Friday, September 6th. DA Davidson cut their price objective on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Citigroup increased their target price on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Braze has a consensus rating of “Buy” and an average price target of $59.18.

Insider Transactions at Braze

In related news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at $9,104,920. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The disclosure for this sale can be found here. Insiders sold a total of 186,465 shares of company stock worth $8,054,420 over the last 90 days. 24.03% of the stock is owned by insiders.

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.