Braze, Inc. (NASDAQ:BRZE) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 52.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,710 shares of the company’s stock after selling 18,663 shares during the quarter. Quest Partners LLC’s holdings in Braze were worth $540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Braze in the 1st quarter worth about $114,000. Vanguard Group Inc. raised its stake in Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares in the last quarter. American International Group Inc. lifted its holdings in Braze by 1.2% during the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after buying an additional 310 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in shares of Braze by 7.7% in the 1st quarter. Quadrature Capital Ltd now owns 36,267 shares of the company’s stock valued at $1,607,000 after acquiring an additional 2,585 shares during the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BRZE. Barclays decreased their price objective on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. DA Davidson lowered their price objective on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. Finally, Oppenheimer cut their price target on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.47.

Braze Price Performance

Braze stock opened at $38.71 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a market capitalization of $3.98 billion, a PE ratio of -32.80 and a beta of 1.03. The firm has a 50 day simple moving average of $32.99 and a 200-day simple moving average of $37.42.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. On average, analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,557 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $36.02, for a total transaction of $128,123.14. Following the completion of the sale, the general counsel now directly owns 199,520 shares in the company, valued at approximately $7,186,710.40. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the completion of the transaction, the insider now owns 199,963 shares in the company, valued at approximately $9,128,310.95. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,479 shares of company stock valued at $7,148,911 over the last three months. Company insiders own 24.03% of the company’s stock.

Braze 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.