American International Group Inc. Acquires New Holdings in Braze, Inc. (NASDAQ:BRZE)

American International Group Inc. acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,621 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new position in Braze in the second quarter valued at approximately $35,000. Royal Bank of Canada lifted its stake in Braze by 189.3% in the third quarter. Royal Bank of Canada now owns 1,160 shares of the company’s stock valued at $40,000 after buying an additional 759 shares in the last quarter. Bank of America Corp DE lifted its stake in Braze by 50,225.0% in the first quarter. Bank of America Corp DE now owns 2,013 shares of the company’s stock valued at $83,000 after buying an additional 2,009 shares in the last quarter. Barclays PLC bought a new position in Braze in the first quarter valued at approximately $109,000. Finally, JPMorgan Chase & Co. bought a new position in Braze in the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 49.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BRZE. Oppenheimer lifted their price target on shares of Braze from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. JMP Securities boosted their price objective on shares of Braze from $46.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Friday, September 8th. BTIG Research boosted their price objective on shares of Braze from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Barclays boosted their price objective on shares of Braze from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Finally, Piper Sandler boosted their price objective on shares of Braze from $45.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Braze presently has an average rating of “Moderate Buy” and a consensus price target of $53.74.

Braze Price Performance

NASDAQ:BRZE opened at $48.73 on Friday. Braze, Inc. has a one year low of $23.10 and a one year high of $50.37. The company has a market cap of $4.82 billion, a P/E ratio of -34.08 and a beta of 1.01. The firm’s fifty day moving average price is $45.85 and its two-hundred day moving average price is $41.43.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Thursday, September 7th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.09. Braze had a negative net margin of 33.51% and a negative return on equity of 29.85%. The firm had revenue of $115.11 million for the quarter, compared to the consensus estimate of $108.47 million. As a group, equities research analysts expect that Braze, Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling at Braze

In related news, major shareholder Scott R. Tobin sold 15,522 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $47.66, for a total value of $739,778.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Jonathan Hyman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $42.49, for a total value of $849,800.00. Following the transaction, the chief technology officer now directly owns 133,424 shares in the company, valued at $5,669,185.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Scott R. Tobin sold 15,522 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $47.66, for a total transaction of $739,778.52. The disclosure for this sale can be found here. Insiders have sold a total of 175,019 shares of company stock worth $8,199,767 over the last ninety days. Insiders own 26.48% of the company’s stock.

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.