Steadview Capital Management LLC Reduces Stake in Braze, Inc. (NASDAQ:BRZE)

Steadview Capital Management LLC reduced its holdings in Braze, Inc. (NASDAQ:BRZE) by 53.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,524 shares of the company’s stock after selling 241,165 shares during the period. Braze makes up about 3.8% of Steadview Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Steadview Capital Management LLC owned about 0.21% of Braze worth $11,079,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Fred Alger Management LLC acquired a new stake in shares of Braze during the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new stake in shares of Braze during the 3rd quarter worth approximately $31,000. Canton Hathaway LLC acquired a new stake in shares of Braze during the 4th quarter worth approximately $42,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Braze during the 3rd quarter worth approximately $61,000. Finally, Wildcat Capital Management LLC acquired a new stake in shares of Braze during the 3rd quarter worth approximately $107,000. 90.47% of the stock is owned by institutional investors.

Insider Activity at Braze

In related news, insider Myles Kleeger sold 15,000 shares of the company’s 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 sale, the insider now owns 244,291 shares in the company, valued at $13,914,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Phillip M. Fernandez sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares in the company, valued at $662,364.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Myles Kleeger sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,315 shares of company stock worth $4,348,864. 26.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRZE. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Braze in a report on Thursday, March 28th. Scotiabank decreased their price objective on Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a report on Thursday, March 28th. Raymond James decreased their price target on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Braze in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group decreased 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. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.12.

Braze Trading Up 0.1 %

Shares of BRZE stock traded up $0.05 on Friday, reaching $41.60. 387,570 shares of the stock were exchanged, compared to its average volume of 903,095. Braze, Inc. has a one year low of $26.11 and a one year high of $61.53. The stock has a 50 day moving average price of $47.11 and a 200 day moving average price of $50.35.

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

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.