California State Teachers Retirement System Raises Stake in Braze, Inc. (NASDAQ:BRZE)

California State Teachers Retirement System increased its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 8.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,320 shares of the company’s stock after purchasing an additional 1,893 shares during the period. California State Teachers Retirement System’s holdings in Braze were worth $875,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BRZE. Bank of New York Mellon Corp purchased a new stake in Braze during the 1st quarter worth about $370,000. Bank of Montreal Can lifted its holdings in Braze by 81.7% during the 1st quarter. Bank of Montreal Can now owns 103,600 shares of the company’s stock worth $4,645,000 after purchasing an additional 46,591 shares in the last quarter. BlackRock Inc. lifted its holdings in Braze by 2,301.3% during the 1st quarter. BlackRock Inc. now owns 123,233 shares of the company’s stock worth $5,111,000 after purchasing an additional 118,101 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Braze by 8.7% in the 1st quarter. Blair William & Co. IL now owns 10,220 shares of the company’s stock valued at $424,000 after acquiring an additional 820 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Braze by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 695,917 shares of the company’s stock valued at $28,860,000 after acquiring an additional 124,741 shares in the last quarter. Hedge funds and other institutional investors own 49.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays raised their price target on Braze from $45.00 to $50.00 in a research report on Monday, June 12th. DA Davidson reissued a “neutral” rating and set a $35.00 price target on shares of Braze in a report on Monday, August 28th. Piper Sandler upped their price objective on Braze from $40.00 to $45.00 in a research note on Friday, June 9th. Canaccord Genuity Group boosted their target price on Braze from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Finally, Oppenheimer upped their price objective on Braze from $38.00 to $42.00 in a research report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.59.

Insider Buying and Selling

In other Braze news, General Counsel Susan Wiseman sold 2,466 shares of Braze stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $40.23, for a total transaction of $99,207.18. Following the completion of the sale, the general counsel now owns 78,814 shares of the company’s stock, valued at approximately $3,170,687.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William Magnuson sold 11,552 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.26, for a total value of $476,635.52. Following the completion of the transaction, the chief executive officer now owns 478,509 shares of the company’s stock, valued at approximately $19,743,281.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan Wiseman sold 2,466 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $40.23, for a total value of $99,207.18. Following the completion of the transaction, the general counsel now directly owns 78,814 shares of the company’s stock, valued at approximately $3,170,687.22. The disclosure for this sale can be found here. Insiders have sold a total of 513,829 shares of company stock worth $22,031,629 in the last ninety days. 26.48% of the stock is owned by insiders.

Braze Trading Up 1.6 %

Shares of NASDAQ:BRZE opened at $47.02 on Monday. Braze, Inc. has a 12-month low of $22.53 and a 12-month high of $47.64. The business’s fifty day simple moving average is $42.73 and its 200-day simple moving average is $36.26. The company has a market capitalization of $4.59 billion, a PE ratio of -32.43 and a beta of 1.06.

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

Braze 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.