Bailard Inc. Grows Stake in Braze, Inc. (NASDAQ:BRZE)

Bailard Inc. lifted its holdings in Braze, Inc. (NASDAQ:BRZE) by 409.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,578 shares of the company’s stock after buying an additional 39,048 shares during the period. Bailard Inc.’s holdings in Braze were worth $2,581,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BRZE. HighTower Advisors LLC raised its stake in shares of Braze by 6.6% in the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after acquiring an additional 335 shares during the period. Arizona State Retirement System raised its stake in Braze by 4.6% in the 3rd quarter. Arizona State Retirement System now owns 11,815 shares of the company’s stock valued at $552,000 after purchasing an additional 524 shares during the last quarter. Arnhold LLC increased its holdings in shares of Braze by 11.1% during the 3rd quarter. Arnhold LLC now owns 5,278 shares of the company’s stock worth $247,000 after buying an additional 529 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Braze by 2.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,831 shares of the company’s stock valued at $1,266,000 after acquiring an additional 588 shares during the period. Finally, Fred Alger Management LLC acquired a new position in Braze in the 3rd quarter worth $29,000. Institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages have commented on BRZE. Piper Sandler restated an “overweight” rating and set a $66.00 price objective on shares of Braze in a research report on Friday, April 5th. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. JPMorgan Chase & Co. reduced their price objective on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, March 28th. Oppenheimer restated an “outperform” rating and issued a $75.00 target price on shares of Braze in a report on Thursday, March 28th. Finally, Scotiabank decreased their price target on Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.41.

Braze Price Performance

BRZE traded up $0.57 during trading hours on Friday, hitting $41.75. 69,958 shares of the company’s stock were exchanged, compared to its average volume of 842,639. Braze, Inc. has a 12-month low of $25.76 and a 12-month high of $61.53. The firm has a 50 day moving average of $49.32 and a 200 day moving average of $50.63.

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