Stanley Laman Group Ltd. Cuts Stock Position in Braze, Inc. (NASDAQ:BRZE)

Stanley Laman Group Ltd. lessened its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,644 shares of the company’s stock after selling 540 shares during the period. Stanley Laman Group Ltd.’s holdings in Braze were worth $1,044,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in Braze during the 3rd quarter worth approximately $4,377,000. Morgan Stanley raised its position in shares of Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares during the period. Seven Eight Capital LP acquired a new position in Braze during the third quarter valued at $283,000. Penserra Capital Management LLC raised its position in Braze by 375.8% during the third quarter. Penserra Capital Management LLC now owns 55,982 shares of the company’s stock valued at $2,616,000 after buying an additional 44,217 shares during the period. Finally, Vanguard Group Inc. increased its position in Braze by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock worth $246,099,000 after purchasing an additional 228,089 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the transaction, the insider now directly owns 244,291 shares in the company, valued at approximately $13,914,815.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the transaction, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at $462,030.24. The disclosure for this sale can be found here. Insiders have sold 77,815 shares of company stock worth $4,164,679 in the last ninety days. 26.48% of the stock is owned by company insiders.

Braze Stock Up 1.3 %

Braze stock traded up $0.53 during midday trading on Friday, reaching $41.71. 605,595 shares of the stock traded hands, compared to its average volume of 849,526. The stock’s fifty day moving average is $48.95 and its 200-day moving average is $50.56. Braze, Inc. has a 12 month low of $25.76 and a 12 month high of $61.53. The stock has a market cap of $4.21 billion, a P/E ratio of -31.36 and a beta of 1.13.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. On average, equities analysts predict that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRZE. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered their target price on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, March 28th. TD Cowen reduced their target price on Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. Finally, Raymond James lowered their price target on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.41.

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.