Raymond James & Associates Acquires Shares of 5,724 Braze, Inc. (NASDAQ:BRZE)

Raymond James & Associates bought a new stake in Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,724 shares of the company’s stock, valued at approximately $304,000.

A number of other institutional investors also recently modified their holdings of BRZE. Fred Alger Management LLC bought a new position in Braze in the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC bought a new position in Braze in the 3rd quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new position in Braze in the 3rd quarter worth approximately $61,000. Wildcat Capital Management LLC bought a new position in Braze in the 3rd quarter worth approximately $107,000. Finally, Olympiad Research LP bought a new position in Braze in the 3rd quarter worth approximately $244,000. Institutional investors own 90.47% of the company’s stock.

Insider Activity

In related news, CEO William Magnuson sold 11,874 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the transaction, the chief executive officer now owns 636,514 shares of the company’s stock, valued at $36,605,920.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William Magnuson sold 11,874 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $57.51, for a total transaction of $682,873.74. Following the completion of the sale, the chief executive officer now directly owns 636,514 shares in the company, valued at approximately $36,605,920.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total transaction of $100,248.06. Following the sale, the director now owns 6,101 shares of the company’s stock, valued at $259,048.46. The disclosure for this sale can be found here. Insiders have sold a total of 77,815 shares of company stock valued at $4,164,679 over the last quarter. Company insiders own 26.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BRZE. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Braze in a report on Thursday, March 28th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 target price on shares of Braze in a report on Friday, April 5th. Scotiabank lowered their target price on shares of Braze from $65.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, March 28th. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of Braze in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.41.

Braze Stock Performance

Shares of BRZE stock opened at $41.71 on Monday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -31.36 and a beta of 1.13. Braze, Inc. has a 52 week low of $25.76 and a 52 week high of $61.53. The firm’s 50-day simple moving average is $48.62 and its two-hundred day simple moving average is $50.56.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.02. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. The business had revenue of $130.96 million for the quarter, compared to analyst estimates of $124.55 million. Analysts forecast that Braze, Inc. will post -1.18 earnings per share for the current year.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers 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 Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.