Steadview Capital Management LLC Has $11.08 Million Stock Position in Braze, Inc. (NASDAQ:BRZE)

Steadview Capital Management LLC cut its holdings in Braze, Inc. (NASDAQ:BRZE) by 53.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 208,524 shares of the company’s stock after selling 241,165 shares during the period. Braze comprises about 3.8% of Steadview Capital Management LLC’s holdings, making the stock its 7th biggest position. Steadview Capital Management LLC’s holdings in Braze were worth $11,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BRZE. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Braze by 21.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,678 shares of the company’s stock valued at $452,000 after purchasing an additional 1,684 shares during the period. BluePath Capital Management LLC bought a new position in Braze during the third quarter valued at $31,000. Strs Ohio grew its holdings in Braze by 165.4% during the third quarter. Strs Ohio now owns 21,500 shares of the company’s stock valued at $1,004,000 after purchasing an additional 13,400 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Braze by 47.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,243 shares of the company’s stock valued at $1,086,000 after purchasing an additional 7,527 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in shares of Braze during the third quarter worth $820,000. 90.47% of the stock is owned by institutional investors.

Braze Trading Up 0.1 %

NASDAQ BRZE traded up $0.05 during trading hours on Friday, reaching $41.60. 387,570 shares of the stock traded hands, compared to its average volume of 903,095. The stock has a 50 day simple moving average of $47.11 and a two-hundred day simple moving average of $50.35. Braze, Inc. has a 1 year low of $26.11 and a 1 year 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $124.55 million. Research analysts forecast that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on BRZE. Oppenheimer restated an “outperform” rating and set a $75.00 target price on shares of Braze in a research report on Thursday, March 28th. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Thursday, March 21st. Canaccord Genuity Group dropped their target price on Braze from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. William Blair restated an “outperform” rating on shares of Braze in a research report on Thursday, March 28th. Finally, Scotiabank dropped their target price on Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.12.

Insider Activity

In other news, CAO Pankaj Malik sold 2,832 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $57.52, for a total transaction of $162,896.64. Following the transaction, the chief accounting officer now directly owns 75,021 shares of the company’s stock, valued at $4,315,207.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William Magnuson sold 11,874 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $57.51, for a total value of $682,873.74. Following the sale, the chief executive officer now directly owns 636,514 shares of the company’s stock, valued at $36,605,920.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Pankaj Malik sold 2,832 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $57.52, for a total value of $162,896.64. Following the completion of the sale, the chief accounting officer now directly owns 75,021 shares in the company, valued at $4,315,207.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,315 shares of company stock valued at $4,348,864. 26.48% of the stock is currently owned by insiders.

Braze 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.