Envestnet Asset Management Inc. Reduces Stock Position in Braze, Inc. (NASDAQ:BRZE)

Envestnet Asset Management Inc. decreased its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,115 shares of the company’s stock after selling 2,181 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Braze worth $3,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of Braze in the 4th quarter worth $498,000. JPMorgan Chase & Co. increased its position in Braze by 146.9% during the third quarter. JPMorgan Chase & Co. now owns 1,808,577 shares of the company’s stock worth $58,489,000 after purchasing an additional 1,075,998 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Braze during the fourth quarter worth about $708,000. Barclays PLC boosted its holdings in Braze by 148.1% in the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock valued at $3,472,000 after purchasing an additional 64,093 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Braze by 27.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company’s stock valued at $374,000 after buying an additional 1,938 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Susan Wiseman sold 4,167 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $30.98, for a total transaction of $129,093.66. Following the completion of the transaction, the general counsel now directly owns 248,999 shares of the company’s stock, valued at approximately $7,713,989.02. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $633,052.74. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,937 shares of company stock worth $2,707,581. Corporate insiders own 24.03% of the company’s stock.

Braze Price Performance

BRZE stock opened at $30.33 on Friday. The business’s 50-day moving average is $34.21 and its two-hundred day moving average is $37.54. The firm has a market capitalization of $3.17 billion, a P/E ratio of -26.61 and a beta of 1.13. Braze, Inc. has a 1 year low of $27.45 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 22.4% compared to the same quarter last year. On average, analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus set a $50.00 price objective on Braze and gave the company a “buy” rating in a report on Friday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, March 28th. Raymond James increased their price target on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup increased their target price on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $51.25.

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.