Orion Portfolio Solutions LLC Sells 3,684 Shares of Braze, Inc. (NASDAQ:BRZE)

Orion Portfolio Solutions LLC reduced its stake in Braze, Inc. (NASDAQ:BRZE) by 19.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,166 shares of the company’s stock after selling 3,684 shares during the period. Orion Portfolio Solutions LLC’s holdings in Braze were worth $635,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after acquiring an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Braze in the fourth quarter valued at approximately $47,000. Plato Investment Management Ltd bought a new position in Braze during the fourth quarter valued at $115,000. KBC Group NV increased its position in Braze by 39.7% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after buying an additional 832 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Braze in the fourth quarter valued at $165,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ:BRZE opened at $30.98 on Monday. The firm has a market capitalization of $3.24 billion, a PE ratio of -27.18 and a beta of 1.13. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $48.33. The firm has a fifty day moving average of $38.61 and a 200 day moving average of $38.01.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts forecast that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Susan Wiseman sold 10,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $47.22, for a total transaction of $472,200.00. Following the completion of the sale, the general counsel now directly owns 189,520 shares in the company, valued at $8,949,134.40. This represents a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $41.46, for a total value of $62,190.00. Following the transaction, the director now owns 15,269 shares in the company, valued at approximately $633,052.74. The trade was a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,270 shares of company stock valued at $2,643,182. 24.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRZE. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research report on Friday, March 28th. Macquarie raised their price objective on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Braze in a research note on Friday, March 28th. Finally, Stifel Nicolaus set a $50.00 target price on Braze and gave the stock a “buy” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.00.

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.