Braze, Inc. (NASDAQ:BRZE) Major Shareholder Iconiq Strategic Partners Vi, Purchases 152,374 Shares

Braze, Inc. (NASDAQ:BRZEGet Rating) major shareholder Iconiq Strategic Partners Vi, purchased 152,374 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was acquired at an average price of $35.00 per share, for a total transaction of $5,333,090.00. Following the completion of the transaction, the insider now directly owns 474,764 shares of the company’s stock, valued at approximately $16,616,740. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Iconiq Strategic Partners Vi, also recently made the following trade(s):

  • On Monday, September 19th, Iconiq Strategic Partners Vi, acquired 15,053 shares of Braze stock. The stock was purchased at an average cost of $35.12 per share, with a total value of $528,661.36.

Braze Stock Down 1.2 %

Shares of NASDAQ:BRZE opened at $35.48 on Wednesday. Braze, Inc. has a 52 week low of $27.09 and a 52 week high of $98.78. The stock has a market capitalization of $3.34 billion and a P/E ratio of -20.39. The firm has a fifty day simple moving average of $43.27 and a two-hundred day simple moving average of $39.63.

Braze (NASDAQ:BRZEGet Rating) last issued its quarterly earnings data on Monday, September 12th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. Braze had a negative net margin of 41.54% and a negative return on equity of 35.25%. The business had revenue of $86.13 million during the quarter, compared to analysts’ expectations of $81.16 million. Braze’s revenue was up 54.5% compared to the same quarter last year. On average, analysts expect that Braze, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BRZE. Loop Capital reduced their price objective on shares of Braze from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, June 15th. UBS Group began coverage on shares of Braze in a research note on Tuesday, July 12th. They issued a “buy” rating and a $53.00 price objective for the company. Needham & Company LLC began coverage on shares of Braze in a research note on Tuesday, September 13th. They issued a “buy” rating and a $70.00 price objective for the company. Raymond James increased their price objective on shares of Braze from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 13th. Finally, Barclays cut their target price on shares of Braze from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, June 15th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze presently has an average rating of “Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Braze

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of Braze by 50,225.0% in the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after acquiring an additional 2,009 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Braze in the 2nd quarter worth about $140,000. Hamilton Lane Advisors LLC bought a new stake in shares of Braze in the 2nd quarter worth about $283,000. Legal & General Group Plc bought a new stake in shares of Braze in the 2nd quarter worth about $305,000. Finally, Sei Investments Co. bought a new stake in shares of Braze in the 2nd quarter worth about $308,000. Institutional investors own 39.38% of the company’s stock.

Braze Company Profile

(Get Rating)

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. It offers data ingestion products, such as Braze software development kits that automatically manage data ingestion and the delivery of mobile and web notifications, in-application/in-browser interstitial messages, and content cards, as well as can be integrated into a range of digital interfaces and application development frameworks; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; and partner cohort syncing, which allow brands to sync user cohorts from partners.

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