Teacher Retirement System of Texas Invests $388,000 in Braze, Inc. (NASDAQ:BRZE)

Teacher Retirement System of Texas purchased a new position in Braze, Inc. (NASDAQ:BRZE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,752 shares of the company’s stock, valued at approximately $388,000.

Several other institutional investors have also modified their holdings of BRZE. Tower Research Capital LLC TRC raised its stake in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 405 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after purchasing an additional 517 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings 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 purchasing an additional 827 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Braze by 8,436.4% during the fourth 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. Finally, Versant Capital Management Inc bought a new position in shares of Braze during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Performance

Shares of BRZE stock opened at $28.24 on Friday. The firm’s 50-day moving average is $30.98 and its 200-day moving average is $35.21. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -27.96 and a beta of 1.10. Braze, Inc. has a 52-week low of $25.22 and a 52-week high of $48.33.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Braze had a negative net margin of 16.76% and a negative return on equity of 18.89%. The firm had revenue of $162.06 million for the quarter, compared to analysts’ expectations of $158.60 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue was up 19.6% on a year-over-year basis. Sell-side analysts predict that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BRZE. Stifel Nicolaus set a $50.00 price target on Braze and gave the company a “buy” rating in a research note on Friday, March 28th. Canaccord Genuity Group increased their target price on Braze from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, March 28th. Wells Fargo & Company cut their price objective on Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Raymond James Financial reduced their price objective on Braze from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, June 6th. Finally, Cantor Fitzgerald initiated coverage on Braze in a report on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.79.

Insider Buying and Selling at Braze

In related news, CTO Jonathan Hyman sold 9,197 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $329,988.36. Following the sale, the chief technology officer owned 214,024 shares in the company, valued at approximately $7,679,181.12. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Astha Malik sold 13,460 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $482,944.80. Following the completion of the sale, the insider owned 258,395 shares in the company, valued at $9,271,212.60. This represents a 4.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,269 shares of company stock worth $2,479,135 in the last three months. Company insiders own 18.20% of the company’s stock.

Braze 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.