Ieq Capital LLC Has $12.05 Million Stake in Braze, Inc. (NASDAQ:BRZE)

Ieq Capital LLC raised its holdings in Braze, Inc. (NASDAQ:BRZE) by 1,990.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,828 shares of the company’s stock after acquiring an additional 215,979 shares during the quarter. Ieq Capital LLC owned about 0.23% of Braze worth $12,051,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BRZE. Morgan Stanley grew its holdings in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Braze by 180.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after acquiring an additional 826,100 shares during the period. Invesco Ltd. raised its stake in Braze by 167.5% during the third quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock worth $60,467,000 after acquiring an additional 810,295 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Braze during the 3rd quarter worth about $12,794,000. Finally, Federated Hermes Inc. acquired a new position in Braze in the third quarter valued at about $12,373,000. 90.47% of the stock is owned by institutional investors.

Braze Price Performance

BRZE stock traded up $0.49 during mid-day trading on Monday, reaching $41.72. The company had a trading volume of 834,730 shares, compared to its average volume of 835,924. Braze, Inc. has a 52 week low of $29.07 and a 52 week high of $61.53. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -31.60 and a beta of 1.13. The stock has a 50 day simple moving average of $45.55 and a two-hundred day simple moving average of $50.33.

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

Insiders Place Their Bets

In related news, insider Myles Kleeger sold 15,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $13,914,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Susan Wiseman sold 2,838 shares of Braze stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.52, for a total value of $163,241.76. Following the completion of the sale, the general counsel now directly owns 206,358 shares in the company, valued at $11,869,712.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total value of $854,400.00. Following the sale, 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 83,315 shares of company stock valued at $4,391,304 over the last 90 days. 26.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BRZE has been the topic of several research reports. William Blair reiterated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Canaccord Genuity Group reduced their price objective on Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Oppenheimer reissued an “outperform” rating and issued a $75.00 target price on shares of Braze in a research note on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lowered their price objective on Braze from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and an average target price of $64.12.

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.