Bank of New York Mellon Corp Buys 25,870 Shares of Braze, Inc. (NASDAQ:BRZE)

Bank of New York Mellon Corp lifted its position in Braze, Inc. (NASDAQ:BRZE) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,383 shares of the company’s stock after buying an additional 25,870 shares during the quarter. Bank of New York Mellon Corp owned about 0.35% of Braze worth $13,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BRZE. Proficio Capital Partners LLC bought a new position in Braze in the fourth quarter worth $498,000. Raymond James Financial Inc. acquired a new position in shares of Braze in the 4th quarter valued at $1,197,000. HighTower Advisors LLC lifted its holdings in shares of Braze by 38.7% during the 4th quarter. HighTower Advisors LLC now owns 11,007 shares of the company’s stock worth $461,000 after acquiring an additional 3,071 shares during the period. Swiss National Bank boosted its position in shares of Braze by 7.1% during the 4th quarter. Swiss National Bank now owns 121,600 shares of the company’s stock valued at $5,093,000 after acquiring an additional 8,100 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Braze in the fourth quarter valued at about $258,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Braze news, CTO Jonathan Hyman sold 9,197 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $329,988.36. Following the sale, the chief technology officer owned 214,024 shares of the company’s stock, valued at $7,679,181.12. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Myles Kleeger sold 9,189 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,701.32. Following the transaction, the insider owned 159,693 shares of the company’s stock, valued at $5,729,784.84. This trade represents a 5.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,269 shares of company stock worth $2,479,135 over the last quarter. Corporate insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus set a $50.00 target price on shares of Braze and gave the company a “buy” rating in a research note on Friday, March 28th. Wells Fargo & Company lowered their price target on shares of Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Loop Capital reduced their price objective on Braze from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, June 6th. JPMorgan Chase & Co. decreased their price objective on Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, June 6th. Finally, Canaccord Genuity Group boosted their target price on Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Braze has a consensus rating of “Moderate Buy” and an average price target of $45.79.

Braze Price Performance

BRZE stock opened at $28.88 on Monday. Braze, Inc. has a 12 month low of $25.22 and a 12 month high of $48.33. The firm’s 50-day moving average is $30.89 and its 200 day moving average is $35.01. The company has a market capitalization of $3.05 billion, a PE ratio of -28.59 and a beta of 1.10.

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

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.