Bailard Inc. Acquires 39,048 Shares of Braze, Inc. (NASDAQ:BRZE)

Bailard Inc. increased its stake in Braze, Inc. (NASDAQ:BRZE) by 409.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,578 shares of the company’s stock after acquiring an additional 39,048 shares during the quarter. Bailard Inc.’s holdings in Braze were worth $2,581,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC acquired a new stake in shares of Braze during the third quarter worth $29,000. BluePath Capital Management LLC acquired a new stake in Braze in the third quarter worth about $31,000. Canton Hathaway LLC bought a new stake in shares of Braze during the fourth quarter worth $42,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Braze in the third quarter valued at approximately $61,000. Finally, Wildcat Capital Management LLC bought a new position in Braze in the 3rd quarter valued at about $107,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on BRZE. TD Cowen reduced their price objective on shares of Braze from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. DA Davidson reiterated a “buy” rating and set a $65.00 target price on shares of Braze in a research report on Monday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a report on Thursday, March 28th. Scotiabank decreased their price target on Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price objective on shares of Braze in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.41.

Insider Transactions at Braze

In other Braze news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $42.46, for a total transaction of $100,248.06. Following the sale, the director now directly owns 6,101 shares of the company’s stock, valued at $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Braze news, Director Fernando Machado sold 2,361 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now owns 6,101 shares of the company’s stock, valued at $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total value of $854,400.00. Following the sale, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. In the last three months, insiders sold 77,815 shares of company stock valued at $4,164,679. Company insiders own 26.48% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ BRZE traded up $0.57 during trading hours on Friday, reaching $41.75. 69,958 shares of the stock traded hands, compared to its average volume of 842,639. The company’s 50-day simple moving average is $49.32 and its two-hundred day simple moving average is $50.63. Braze, Inc. has a 52-week low of $25.76 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. On average, sell-side analysts anticipate that Braze, Inc. will post -1.18 EPS for the current fiscal 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.