Quest Partners LLC Takes Position in Braze, Inc. (NASDAQ:BRZE)

Quest Partners LLC purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,198 shares of the company’s stock, valued at approximately $701,000.

Several other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC purchased a new stake in Braze in the third quarter valued at approximately $29,000. Canton Hathaway LLC purchased a new stake in Braze in the fourth quarter valued at approximately $42,000. DekaBank Deutsche Girozentrale purchased a new stake in Braze in the third quarter valued at approximately $61,000. Wildcat Capital Management LLC purchased a new stake in Braze in the third quarter valued at approximately $107,000. Finally, LGT Fund Management Co Ltd. purchased a new stake in Braze in the third quarter valued at approximately $248,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 3,833 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $160,066.08. Following the completion of the sale, the general counsel now owns 224,925 shares of the company’s stock, valued at approximately $9,392,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,833 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $160,066.08. Following the completion of the transaction, the general counsel now owns 224,925 shares in the company, valued at approximately $9,392,868. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jonathan Hyman sold 1,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.44, for a total transaction of $42,440.00. Following the completion of the transaction, the chief technology officer now owns 183,258 shares of the company’s stock, valued at approximately $7,777,469.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,114 shares of company stock valued at $3,344,997. Insiders own 24.03% of the company’s stock.

Braze Price Performance

Shares of NASDAQ BRZE opened at $42.35 on Thursday. The firm has a fifty day moving average of $43.76 and a 200-day moving average of $50.23. Braze, Inc. has a 52-week low of $30.48 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued 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 analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. As a group, analysts anticipate that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research analyst reports. UBS Group raised 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 price target on shares of Braze from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. TD Cowen dropped their price target 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. Piper Sandler restated an “overweight” rating and issued a $66.00 price target on shares of Braze in a research note on Friday, April 5th. Finally, DA Davidson restated a “buy” rating and issued a $65.00 price target on shares of Braze in a research note on Monday, March 25th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Braze has an average rating of “Moderate Buy” and a consensus target price 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.