Handelsbanken Fonder AB Boosts Stake in Braze, Inc. (NASDAQ:BRZE)

Handelsbanken Fonder AB lifted its holdings in Braze, Inc. (NASDAQ:BRZE) by 58.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,100 shares of the company’s stock after buying an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Braze were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC purchased a new position in shares of Braze in the third quarter worth about $29,000. BluePath Capital Management LLC purchased a new position in shares of Braze in the third quarter worth about $31,000. Canton Hathaway LLC purchased a new position in shares of Braze in the fourth quarter worth about $42,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Braze in the third quarter worth about $61,000. Finally, Wildcat Capital Management LLC purchased a new position in shares of Braze in the third quarter worth about $107,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Braze

In related news, CAO Pankaj Malik sold 2,832 shares of Braze stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.52, for a total value of $162,896.64. Following the completion of the transaction, the chief accounting officer now owns 75,021 shares in the company, valued at $4,315,207.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction that occurred 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 completion of the transaction, the insider now owns 244,291 shares in the company, valued at $13,914,815.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Pankaj Malik sold 2,832 shares of Braze stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $57.52, for a total transaction of $162,896.64. Following the completion of the transaction, the chief accounting officer now owns 75,021 shares of the company’s stock, valued at approximately $4,315,207.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,815 shares of company stock worth $4,164,679. Corporate insiders own 26.48% of the company’s stock.

Braze Stock Performance

Shares of BRZE stock opened at $40.44 on Thursday. The stock has a market capitalization of $4.08 billion, a P/E ratio of -30.41 and a beta of 1.13. The company has a 50 day moving average price of $48.03 and a 200 day moving average price of $50.51. Braze, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $61.53.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BRZE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a research note on Thursday, March 28th. TD Cowen reduced their target price on shares of Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Canaccord Genuity Group reduced their target price on shares of Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of Braze in a research note on Monday, March 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Braze in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.12.

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.