Allspring Global Investments Holdings LLC Has $13.41 Million Holdings in Braze, Inc. (NASDAQ:BRZE)

Allspring Global Investments Holdings LLC grew its stake in Braze, Inc. (NASDAQ:BRZEFree Report) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,625 shares of the company’s stock after buying an additional 984 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.30% of Braze worth $13,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BRZE. 1832 Asset Management L.P. boosted its holdings in shares of Braze by 537.4% in the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after buying an additional 1,287,500 shares during the period. Morgan Stanley lifted its position in shares of Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares in the last quarter. Norges Bank bought a new stake in shares of Braze in the fourth quarter worth $37,584,000. Fiera Capital Corp bought a new stake in shares of Braze in the fourth quarter worth $31,153,000. Finally, Vanguard Group Inc. lifted its position in shares of Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Activity

In other news, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $744,956.64. Following the completion of the sale, the chief executive officer now directly owns 618,675 shares in the company, valued at $25,835,868. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Myles Kleeger sold 9,177 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total value of $383,231.52. Following the completion of the sale, the insider now directly owns 221,906 shares in the company, valued at $9,266,794.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the completion of the sale, the chief executive officer now owns 618,675 shares of the company’s stock, valued at $25,835,868. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,894 shares of company stock worth $3,119,266. Corporate insiders own 24.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BRZE shares. JPMorgan Chase & Co. cut their price objective on shares of Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th. Canaccord Genuity Group boosted their price objective on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Scotiabank cut their price objective on shares of Braze from $58.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, June 3rd. Piper Sandler cut their price target on shares of Braze from $66.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, June 7th. Finally, BTIG Research lowered their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average price target of $60.88.

View Our Latest Stock Report on BRZE

Braze Stock Down 1.2 %

Shares of NASDAQ:BRZE opened at $39.05 on Monday. Braze, Inc. has a 12-month low of $33.93 and a 12-month high of $61.53. The stock has a market cap of $3.97 billion, a PE ratio of -30.51 and a beta of 1.06. The business has a 50 day moving average of $39.14 and a 200-day moving average of $46.97.

Braze (NASDAQ:BRZEGet Free Report) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.01. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. The company had revenue of $135.46 million during the quarter, compared to analysts’ expectations of $131.56 million. Equities research analysts expect that Braze, Inc. will post -1.21 earnings per share for the current year.

About Braze

(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.

See Also

Institutional Ownership by Quarter for Braze (NASDAQ:BRZE)

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