Virtu Financial LLC Sells 1,844 Shares of Braze, Inc. (NASDAQ:BRZE)

Virtu Financial LLC cut its holdings in Braze, Inc. (NASDAQ:BRZE) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,993 shares of the company’s stock after selling 1,844 shares during the quarter. Virtu Financial LLC’s holdings in Braze were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze in the fourth quarter worth about $47,000. Plato Investment Management Ltd bought a new stake in Braze during the fourth quarter worth approximately $115,000. KBC Group NV raised its position in Braze by 39.7% during 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 during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Braze in the 4th quarter valued at approximately $165,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In related news, CAO Pankaj Malik sold 3,700 shares of the company’s 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 directly owns 54,784 shares in the company, valued at $2,507,463.68. This represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Myles Kleeger sold 10,000 shares of Braze stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.43, for a total value of $454,300.00. Following the completion of the transaction, the insider now owns 184,396 shares in the company, valued at $8,377,110.28. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,470 shares of company stock valued at $3,841,921. 24.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRZE. Piper Sandler raised their price target on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Citigroup lifted their price target on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday. William Blair reissued an “outperform” rating on shares of Braze in a research note on Thursday, December 19th. Finally, Stifel Nicolaus set a $50.00 target price on Braze and gave the company a “buy” rating in a research note on Friday. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $53.00.

Braze Price Performance

BRZE stock opened at $37.51 on Friday. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $48.33. The business has a 50-day moving average price of $39.66 and a 200 day moving average price of $37.98. The company has a market capitalization of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17.

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