US Bancorp DE Grows Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

US Bancorp DE boosted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 38.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,737 shares of the company’s stock after purchasing an additional 7,103 shares during the quarter. US Bancorp DE’s holdings in Braze were worth $832,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Covestor Ltd raised its stake in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares during the period. Quarry LP purchased a new stake in shares of Braze in the second quarter valued at $50,000. Comerica Bank raised its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares during the period. Canton Hathaway LLC raised its stake in shares of Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now directly owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Myles Kleeger sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the transaction, the insider now directly owns 199,963 shares of the company’s stock, valued at $9,128,310.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,658 shares of company stock worth $7,980,396 in the last three months. Corporate insiders own 24.03% of the company’s stock.

Braze Stock Performance

NASDAQ:BRZE opened at $34.59 on Friday. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53. The stock has a market capitalization of $3.55 billion, a P/E ratio of -29.31 and a beta of 1.03. The company’s 50-day simple moving average is $33.45 and its 200-day simple moving average is $37.81.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the business earned ($0.30) EPS. On average, research analysts forecast that Braze, Inc. will post -1.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRZE. JPMorgan Chase & Co. reduced their target price on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Oppenheimer reduced their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Macquarie assumed coverage on shares of Braze in a research note on Thursday, October 31st. They issued a “neutral” rating and a $30.00 price target on the stock. Piper Sandler reduced their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Braze in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Braze presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

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.