KLP Kapitalforvaltning AS Takes Position in Braze, Inc. (NASDAQ:BRZE)

KLP Kapitalforvaltning AS bought a new position in shares of Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,100 shares of the company’s stock, valued at approximately $549,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRZE. Charles Schwab Investment Management Inc. increased its position in Braze by 12.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,767 shares of the company’s stock worth $16,486,000 after purchasing an additional 57,713 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Braze during the 4th quarter worth approximately $498,000. Holocene Advisors LP raised its stake in shares of Braze by 52.7% in the third quarter. Holocene Advisors LP now owns 84,383 shares of the company’s stock valued at $2,729,000 after acquiring an additional 29,123 shares in the last quarter. Geode Capital Management LLC raised its position in Braze by 18.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock valued at $48,428,000 after purchasing an additional 229,660 shares in the last quarter. Finally, Vestcor Inc purchased a new position in Braze in the third quarter worth approximately $1,617,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Braze

In other news, CEO William Magnuson sold 18,050 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $736,801.00. Following the completion of the transaction, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at approximately $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the completion of the sale, the chief accounting officer now directly owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,970 shares of company stock valued at $3,904,111. 24.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BRZE shares. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price (up previously from $50.00) on shares of Braze in a research note on Friday, March 28th. Macquarie upped their price objective on Braze from $30.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Braze in a research note on Friday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Finally, Stifel Nicolaus set a $50.00 price target on Braze and gave the stock a “buy” rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $53.00.

Braze Trading Down 0.2 %

Shares of Braze stock opened at $36.30 on Thursday. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $48.33. The stock has a market capitalization of $3.76 billion, a P/E ratio of -31.84 and a beta of 1.17. The business’s fifty day moving average price is $39.16 and its 200 day moving average price is $38.04.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company had revenue of $160.40 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, sell-side analysts predict that Braze, Inc. will post -0.98 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.