CIBC Private Wealth Group LLC Sells 136,964 Shares of Braze, Inc. (NASDAQ:BRZE)

CIBC Private Wealth Group LLC trimmed its position in shares of Braze, Inc. (NASDAQ:BRZEFree Report) by 64.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,607 shares of the company’s stock after selling 136,964 shares during the quarter. CIBC Private Wealth Group LLC owned 0.08% of Braze worth $4,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC bought a new position in shares of Braze during the 3rd quarter valued at $29,000. Canton Hathaway LLC bought a new position in shares of Braze during the 4th quarter valued at $42,000. DekaBank Deutsche Girozentrale bought a new position in shares of Braze during the 3rd quarter valued at $61,000. Wildcat Capital Management LLC bought a new position in shares of Braze during the 3rd quarter valued at $107,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Braze by 6.6% during the 3rd quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock valued at $256,000 after buying an additional 335 shares during the period. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Braze

In other Braze news, Director Fernando Machado sold 2,361 shares of Braze stock in a transaction on Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the sale, the director now directly owns 6,101 shares in the company, valued at approximately $259,048.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Fernando Machado sold 2,361 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $42.46, for a total value of $100,248.06. Following the sale, the director now directly owns 6,101 shares in the company, valued at approximately $259,048.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Isabelle Winkles sold 4,096 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $42.68, for a total transaction of $174,817.28. Following the completion of the sale, the chief financial officer now owns 242,135 shares in the company, valued at $10,334,321.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,114 shares of company stock worth $3,344,997. Insiders own 24.03% of the company’s stock.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $36.65 on Friday. The company has a market cap of $3.70 billion, a P/E ratio of -27.56 and a beta of 1.06. The firm’s fifty day moving average is $41.15 and its two-hundred day moving average is $49.55. Braze, Inc. has a 52-week low of $33.59 and a 52-week high of $61.53.

Braze (NASDAQ:BRZEGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01. The company had revenue of $135.46 million for the quarter, compared to the consensus estimate of $131.56 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. As a group, analysts forecast that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BRZE has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Braze in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Braze in a report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of Braze in a report on Monday, March 25th. BTIG Research decreased their target price on Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Piper Sandler decreased their target price on Braze from $66.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Read Our Latest Report on Braze

Braze Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Braze (NASDAQ:BRZE)

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