Alliancebernstein L.P. Has $94.80 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Alliancebernstein L.P. reduced its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,263,548 shares of the company’s stock after selling 114,873 shares during the period. Alliancebernstein L.P.’s holdings in Braze were worth $94,797,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Braze by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock worth $354,479,000 after acquiring an additional 1,476,423 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Braze by 27.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,309,244 shares of the company’s stock valued at $96,711,000 after acquiring an additional 500,667 shares in the last quarter. State Street Corp boosted its stake in Braze by 21.5% in the 3rd quarter. State Street Corp now owns 1,575,701 shares of the company’s stock worth $50,958,000 after purchasing an additional 279,050 shares during the period. Geode Capital Management LLC increased its holdings in Braze by 18.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,497,188 shares of the company’s stock worth $48,428,000 after purchasing an additional 229,660 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Braze in the 4th quarter valued at about $62,639,000. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BRZE shares. Piper Sandler upped their price objective on Braze from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Stephens assumed coverage on Braze in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price target for the company. Citigroup lifted their price objective on shares of Braze from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 28th. Oppenheimer restated an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Finally, DA Davidson reiterated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $53.00.

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $41.46, for a total value of $62,190.00. Following the sale, the director now owns 15,269 shares in the company, valued at $633,052.74. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Susan Wiseman sold 10,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the transaction, the general counsel now owns 189,520 shares of the company’s stock, valued at $8,949,134.40. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,970 shares of company stock worth $3,904,111 over the last 90 days. Insiders own 24.03% of the company’s stock.

Braze Stock Performance

BRZE opened at $36.30 on Thursday. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $48.33. The firm has a market cap of $3.76 billion, a P/E ratio of -31.84 and a beta of 1.17. The business’s fifty day moving average is $39.16 and its 200-day moving average is $38.04.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The firm had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, research analysts predict that Braze, Inc. will post -0.98 earnings per share 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.