Ensign Peak Advisors Inc Has $687,000 Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Ensign Peak Advisors Inc cut its stake in shares of Braze, Inc. (NASDAQ:BRZE – Get Rating) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,738 shares of the company’s stock after selling 7,496 shares during the period. Ensign Peak Advisors Inc’s holdings in Braze were worth $687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BRZE. Cadian Capital Management LP raised its stake in Braze by 60.5% in the third quarter. Cadian Capital Management LP now owns 4,622,677 shares of the company’s stock valued at $161,008,000 after buying an additional 1,742,969 shares during the period. Driehaus Capital Management LLC bought a new stake in Braze in the second quarter valued at approximately $22,693,000. Victory Capital Management Inc. bought a new stake in Braze in the third quarter valued at approximately $20,654,000. Steadview Capital Management LLC bought a new stake in Braze in the third quarter valued at approximately $15,426,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Braze by 54.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 847,360 shares of the company’s stock valued at $30,700,000 after buying an additional 298,790 shares during the period. Institutional investors own 44.13% of the company’s stock.

Braze Stock Performance

Shares of BRZE stock opened at $30.92 on Tuesday. The stock’s fifty day moving average price is $30.93 and its two-hundred day moving average price is $30.86. The company has a market cap of $2.96 billion, a PE ratio of -18.16 and a beta of 0.66. Braze, Inc. has a fifty-two week low of $22.53 and a fifty-two week high of $50.97.

Braze (NASDAQ:BRZE – Get Rating) last issued its earnings results on Tuesday, December 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $93.13 million for the quarter, compared to the consensus estimate of $90.45 million. Braze had a negative return on equity of 29.94% and a negative net margin of 45.37%. On average, equities analysts predict that Braze, Inc. will post -1.44 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 2,247 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $32.52, for a total value of $73,072.44. Following the sale, the chief accounting officer now owns 74,893 shares of the company’s stock, valued at approximately $2,435,520.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Isabelle Winkles sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $30.77, for a total transaction of $30,770.00. Following the sale, the chief financial officer now owns 28,963 shares of the company’s stock, valued at approximately $891,191.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Pankaj Malik sold 2,247 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $32.52, for a total value of $73,072.44. Following the sale, the chief accounting officer now directly owns 74,893 shares in the company, valued at approximately $2,435,520.36. The disclosure for this sale can be found here. Company insiders own 32.14% of the company’s stock.

Analyst Ratings Changes

BRZE has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Braze from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 14th. UBS Group lowered their target price on Braze to $40.00 in a research note on Wednesday, December 14th. Cowen lowered their target price on Braze from $47.00 to $44.00 in a research note on Wednesday, December 14th. JMP Securities lowered their target price on Braze from $52.00 to $46.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 14th. Finally, Canaccord Genuity Group lowered their target price on Braze from $47.00 to $33.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.56.

Braze Profile

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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.