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Pictet Asset Management Holding SA lifted its holdings in shares of Braze, Inc. (NASDAQ:BRZE – Free Report) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,935 shares of the company’s stock after buying an additional 1,938 shares during the period. Pictet Asset Management Holding SA’s holdings in Braze were worth $374,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock worth $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Braze in the 4th quarter valued at approximately $47,000. Plato Investment Management Ltd purchased a new stake in shares of Braze in the fourth quarter valued at approximately $115,000. KBC Group NV grew its holdings in Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after acquiring an additional 832 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Braze in the fourth quarter valued at $165,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on BRZE shares. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Friday, March 28th. Canaccord Genuity Group lifted their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price target (up previously from $50.00) on shares of Braze in a report on Friday, March 28th. Stifel Nicolaus set a $50.00 price objective on Braze and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. One 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’s stock. According to MarketBeat, Braze currently has a consensus rating of “Buy” and an average target price of $53.00.
View Our Latest Stock Report on BRZE
Braze Stock Up 10.7 %
Shares of Braze stock opened at $32.90 on Thursday. Braze, Inc. has a 12 month low of $28.59 and a 12 month high of $48.33. The business has a fifty day simple moving average of $37.10 and a 200 day simple moving average of $37.82. The stock has a market cap of $3.44 billion, a PE ratio of -28.86 and a beta of 1.13.
Braze (NASDAQ:BRZE – Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the firm earned ($0.04) EPS. Braze’s revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO William Magnuson sold 18,050 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now directly owns 564,766 shares of the company’s stock, valued at $23,053,748.12. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $43.13, for a total transaction of $64,695.00. Following the completion of the transaction, the director now directly owns 15,269 shares in the company, valued at approximately $658,551.97. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,437 shares of company stock valued at $2,772,276. 24.03% of the stock is currently owned by corporate insiders.
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.
Further Reading
Want to see what other hedge funds are holding BRZE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Braze, Inc. (NASDAQ:BRZE – Free Report).
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