Stanley Laman Group Ltd. Sells 540 Shares of Braze, Inc. (NASDAQ:BRZE)

Stanley Laman Group Ltd. cut its position in Braze, Inc. (NASDAQ:BRZE) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 19,644 shares of the company’s stock after selling 540 shares during the period. Stanley Laman Group Ltd.’s holdings in Braze were worth $1,044,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Fred Alger Management LLC acquired a new stake in shares of Braze during the third quarter worth about $29,000. BluePath Capital Management LLC purchased a new position in Braze in the third quarter valued at about $31,000. Canton Hathaway LLC acquired a new position in Braze in the fourth quarter worth about $42,000. DekaBank Deutsche Girozentrale acquired a new position in Braze in the third quarter valued at approximately $61,000. Finally, Wildcat Capital Management LLC bought a new stake in shares of Braze during the third quarter valued at approximately $107,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insiders Place Their Bets

In other Braze news, Director Fernando Machado sold 2,361 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the completion of the sale, the director now directly owns 6,101 shares of the company’s stock, valued at approximately $259,048.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Pankaj Malik sold 2,832 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $4,315,207.92. The disclosure for this sale can be found here. Insiders have sold a total of 77,815 shares of company stock worth $4,164,679 in the last quarter. 26.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BRZE. Piper Sandler restated an “overweight” rating and set a $66.00 price target on shares of Braze in a report on Friday, April 5th. UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Thursday, March 21st. Raymond James lowered their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” 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 report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $75.00 target price on shares of Braze in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.41.

Braze Price Performance

NASDAQ BRZE traded up $0.53 during trading on Friday, hitting $41.71. The company’s stock had a trading volume of 605,595 shares, compared to its average volume of 849,526. The company has a market cap of $4.21 billion, a PE ratio of -31.36 and a beta of 1.13. The business’s 50 day simple moving average is $48.95 and its 200-day simple moving average is $50.56. Braze, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. The firm had revenue of $130.96 million during the quarter, compared to analysts’ expectations of $124.55 million. Analysts expect that Braze, Inc. will post -1.18 EPS 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.