Bank of New York Mellon Corp Raises Holdings in Braze, Inc. (NASDAQ:BRZE)

Bank of New York Mellon Corp grew its position in Braze, Inc. (NASDAQ:BRZE) by 43.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,654 shares of the company’s stock after buying an additional 99,397 shares during the quarter. Bank of New York Mellon Corp owned 0.34% of Braze worth $11,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BRZE. Parallel Advisors LLC purchased a new stake in shares of Braze during the 4th quarter worth $36,000. Royal Bank of Canada lifted its stake in shares of Braze by 189.3% during the 3rd quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock worth $40,000 after purchasing an additional 759 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Braze by 50,225.0% during the 1st quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock worth $83,000 after purchasing an additional 2,009 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Braze by 21.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,762 shares of the company’s stock worth $103,000 after purchasing an additional 669 shares during the last quarter. Finally, Barclays PLC purchased a new stake in shares of Braze during the 1st quarter worth $109,000. 49.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on BRZE shares. DA Davidson reaffirmed a “neutral” rating and set a $35.00 target price on shares of Braze in a research report on Monday, August 28th. Barclays upped their target price on Braze from $45.00 to $50.00 in a research report on Monday, June 12th. Canaccord Genuity Group upped their target price on Braze from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Piper Sandler upped their target price on Braze from $40.00 to $45.00 in a research report on Friday, June 9th. Finally, Scotiabank upped their target price on Braze from $39.00 to $46.00 in a research report on Friday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.59.

Insiders Place Their Bets

In other Braze news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $43.19, for a total transaction of $64,785.00. Following the transaction, the director now owns 11,056 shares in the company, valued at $477,508.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Jonathan Hyman sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $42.49, for a total value of $849,800.00. Following the transaction, the chief technology officer now owns 133,424 shares in the company, valued at $5,669,185.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Phillip M. Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $43.19, for a total value of $64,785.00. Following the completion of the transaction, the director now owns 11,056 shares in the company, valued at approximately $477,508.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 513,829 shares of company stock worth $22,031,629. 26.48% of the stock is owned by corporate insiders.

Braze Trading Up 1.6 %

Shares of BRZE stock opened at $47.02 on Friday. The company has a market capitalization of $4.59 billion, a P/E ratio of -32.43 and a beta of 1.06. The business’s 50 day moving average is $42.59 and its two-hundred day moving average is $36.14. Braze, Inc. has a 12-month low of $22.53 and a 12-month high of $47.64.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, June 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The company had revenue of $101.80 million for the quarter, compared to the consensus estimate of $98.77 million. Braze had a negative return on equity of 30.00% and a negative net margin of 36.38%. Braze’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.37) earnings per share. On average, research analysts predict that Braze, Inc. will post -1.53 earnings per share for the current fiscal year.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers data ingestion products, such as 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 cohort syncing, which allow brands to sync user cohorts from partners; and Braze Cloud Data Ingestion that enables brands to harness their customer data.