Raymond James Financial Inc. Takes $1.20 Million Position in Braze, Inc. (NASDAQ:BRZE)

Raymond James Financial Inc. purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,584 shares of the company’s stock, valued at approximately $1,197,000.

Several other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its position in shares of Braze by 9,188.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company’s stock valued at $35,000 after acquiring an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Braze by 8,436.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $39,000 after purchasing an additional 928 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Braze in the fourth quarter valued at approximately $47,000. Plato Investment Management Ltd acquired a new position in Braze during the fourth quarter worth $115,000. Finally, KBC Group NV boosted its position in shares of Braze by 39.7% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company’s stock worth $123,000 after buying an additional 832 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling

In other news, CAO Pankaj Malik sold 2,585 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $105,519.70. Following the transaction, the chief accounting officer now directly owns 52,199 shares of the company’s stock, valued at $2,130,763.18. This represents a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Myles Kleeger sold 7,149 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total transaction of $291,822.18. Following the completion of the transaction, the insider now owns 177,247 shares of the company’s stock, valued at $7,235,222.54. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,937 shares of company stock valued at $2,235,381 over the last quarter. Company insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BRZE shares. Stifel Nicolaus set a $50.00 price objective on shares of Braze and gave the company a “buy” rating in a research note on Friday, March 28th. DA Davidson decreased their price target on shares of Braze from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Braze in a research note on Friday, March 28th. Stephens initiated coverage on Braze in a research note on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price for the company. Finally, Canaccord Genuity Group upped their price target on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, March 28th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Braze currently has a consensus rating of “Buy” and a consensus target price of $51.25.

Braze Stock Performance

Shares of BRZE opened at $32.41 on Friday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -28.43 and a beta of 1.13. Braze, Inc. has a 1 year low of $27.45 and a 1 year high of $48.33. The company’s fifty day moving average is $33.22 and its two-hundred day moving average is $37.63.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share. Sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current year.

Braze Company Profile

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.