Braze, Inc. (NASDAQ:BRZE) Holdings Cut by Sei Investments Co.

Sei Investments Co. decreased its stake in Braze, Inc. (NASDAQ:BRZE) by 60.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,067 shares of the company’s stock after selling 67,903 shares during the quarter. Sei Investments Co.’s holdings in Braze were worth $1,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after buying an additional 148,366 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Braze by 6.6% in the 1st quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after buying an additional 128,645 shares in the last quarter. Fiera Capital Corp lifted its position in Braze by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock worth $30,320,000 after buying an additional 7,570 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Braze by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after buying an additional 73,764 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Braze by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 391,977 shares of the company’s stock valued at $15,224,000 after purchasing an additional 38,504 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Activity

In other news, General Counsel Susan Wiseman sold 3,558 shares of Braze stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $38.41, for a total transaction of $136,662.78. Following the sale, the general counsel now directly owns 221,840 shares in the company, valued at approximately $8,520,874.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Susan Wiseman sold 3,558 shares of Braze stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $38.41, for a total transaction of $136,662.78. Following the sale, the general counsel now directly owns 221,840 shares in the company, valued at approximately $8,520,874.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $41.12, for a total transaction of $56,786.72. Following the sale, the chief accounting officer now owns 72,980 shares in the company, valued at approximately $3,000,937.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,465 shares of company stock worth $8,023,190. Corporate insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BRZE. UBS Group cut their price target on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Piper Sandler restated an “overweight” rating and set a $51.00 price target on shares of Braze in a report on Friday, September 6th. DA Davidson cut their price target on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze presently has a consensus rating of “Buy” and an average price target of $59.18.

Braze Price Performance

NASDAQ BRZE opened at $31.08 on Friday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -24.28 and a beta of 1.03. The company’s fifty day moving average is $38.84 and its two-hundred day moving average is $40.05. Braze, Inc. has a 52-week low of $30.36 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the business posted ($0.30) EPS. As a group, sell-side analysts expect that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Braze Company 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.