Sei Investments Co. Sells 25,090 Shares of Braze, Inc. (NASDAQ:BRZE)

Sei Investments Co. decreased its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 27.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,342 shares of the company’s stock after selling 25,090 shares during the period. Sei Investments Co. owned approximately 0.07% of Braze worth $2,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BRZE. EverSource Wealth Advisors LLC lifted its stake in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Braze in the fourth quarter worth $47,000. Plato Investment Management Ltd acquired a new position in Braze during the fourth quarter worth $115,000. KBC Group NV grew its position in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after purchasing an additional 832 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Braze in the 4th quarter valued at $165,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Susan Wiseman sold 3,486 shares of Braze stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $40.02, for a total transaction of $139,509.72. Following the completion of the sale, the general counsel now owns 182,109 shares of the company’s stock, valued at $7,288,002.18. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $169,349.00. Following the completion of the sale, the chief accounting officer now owns 54,784 shares in the company, valued at $2,507,463.68. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock worth $3,904,111 in the last ninety days. 24.03% of the stock is owned by insiders.

Braze Price Performance

Shares of BRZE stock opened at $30.98 on Friday. The stock’s 50 day simple moving average is $38.61 and its two-hundred day simple moving average is $37.97. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $48.33. The company has a market cap of $3.21 billion, a PE ratio of -27.18 and a beta of 1.17.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The company had revenue of $160.40 million for the quarter, compared to the consensus estimate of $155.72 million. During the same quarter last year, the firm posted ($0.04) EPS. The firm’s revenue was up 22.4% compared to the same quarter last year. Equities research analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BRZE. DA Davidson reissued a “buy” rating and issued a $50.00 price objective on shares of Braze in a report on Wednesday, March 26th. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Braze in a research report on Friday, March 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Raymond James lifted their price target on Braze from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Finally, 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. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Braze has an average rating of “Buy” and a consensus price target of $53.00.

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.