Mach 1 Financial Group LLC Trims Stock Position in Braze, Inc. (NASDAQ:BRZE)

Mach 1 Financial Group LLC decreased its holdings in Braze, Inc. (NASDAQ:BRZE) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,298 shares of the company’s stock after selling 1,601 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Braze were worth $494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley raised its position in Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after purchasing an additional 899,894 shares during the last quarter. Vanguard Group Inc. increased its stake in Braze by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock valued at $246,099,000 after buying an additional 228,089 shares during the period. Invesco Ltd. increased its stake in Braze by 167.5% in the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after buying an additional 810,295 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Braze by 180.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after buying an additional 826,100 shares during the period. Finally, Federated Hermes Inc. increased its stake in Braze by 90.7% in the 4th quarter. Federated Hermes Inc. now owns 503,994 shares of the company’s stock valued at $26,777,000 after buying an additional 239,742 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total value of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares of the company’s stock, valued at $662,364.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.91, for a total transaction of $89,865.00. Following the completion of the sale, the director now owns 11,056 shares of the company’s stock, valued at $662,364.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the sale, the insider now directly owns 244,291 shares of the company’s stock, valued at approximately $13,914,815.36. The disclosure for this sale can be found here. Insiders sold 77,815 shares of company stock valued at $4,164,679 over the last 90 days. 26.48% of the stock is owned by corporate insiders.

Braze Trading Down 3.1 %

NASDAQ:BRZE traded down $1.29 during trading hours on Wednesday, hitting $40.61. The stock had a trading volume of 110,619 shares, compared to its average volume of 841,631. Braze, Inc. has a 1-year low of $25.76 and a 1-year high of $61.53. The business has a 50 day simple moving average of $48.03 and a two-hundred day simple moving average of $50.51. The company has a market cap of $4.10 billion, a PE ratio of -31.50 and a beta of 1.13.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRZE. TD Cowen dropped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Braze in a research note on Thursday, March 28th. UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Thursday, March 21st. Scotiabank decreased their price objective on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 28th. Finally, Wells Fargo & Company reduced their target price on shares of Braze from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.12.

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.