Victory Capital Management Inc. Has $13.31 Million Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Victory Capital Management Inc. grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 411,544 shares of the company’s stock after buying an additional 19,567 shares during the quarter. Victory Capital Management Inc. owned approximately 0.40% of Braze worth $13,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in Braze in the second quarter worth about $10,166,000. Vanguard Group Inc. increased its position in Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Braze in the first quarter worth about $5,714,000. Mackenzie Financial Corp acquired a new stake in Braze in the second quarter worth about $971,000. Finally, King Luther Capital Management Corp acquired a new stake in Braze in the second quarter worth about $3,479,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on BRZE shares. TD Cowen lowered their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Piper Sandler cut their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group lowered their price target on Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays decreased their target price on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Stock Down 0.5 %

Shares of BRZE stock opened at $36.02 on Thursday. The company has a market cap of $3.70 billion, a P/E ratio of -30.53 and a beta of 1.03. The business has a fifty day simple moving average of $32.86 and a 200 day simple moving average of $37.48. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53.

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

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 6,930 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the transaction, the chief technology officer now owns 163,020 shares in the company, valued at approximately $5,616,039. This represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,479 shares of company stock valued at $7,148,911 over the last 90 days. Company insiders own 24.03% of the company’s stock.

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.