Cwm LLC Purchases 3,856 Shares of Braze, Inc. (NASDAQ:BRZE)

Cwm LLC boosted its position in shares of Braze, Inc. (NASDAQ:BRZE) by 237.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,477 shares of the company’s stock after acquiring an additional 3,856 shares during the quarter. Cwm LLC’s holdings in Braze were worth $198,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BRZE. ShawSpring Partners LLC bought a new stake in Braze during the fourth quarter worth $62,837,000. Norges Bank bought a new position in shares of Braze in the fourth quarter valued at about $62,639,000. Vanguard Group Inc. raised its position in shares of Braze by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 8,464,161 shares of the company’s stock valued at $354,479,000 after purchasing an additional 1,476,423 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Braze by 121.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,407 shares of the company’s stock worth $92,028,000 after buying an additional 1,203,149 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Braze during the 4th quarter worth about $50,000,000. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Braze

In related news, insider Astha Malik sold 13,460 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 $482,944.80. Following the sale, the insider owned 258,395 shares in the company, valued at approximately $9,271,212.60. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jonathan Hyman sold 9,197 shares of the 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 $329,988.36. Following the sale, the chief technology officer owned 214,024 shares in the company, valued at $7,679,181.12. This represents a 4.12% 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 Trading Up 1.6%

Shares of Braze stock opened at $29.19 on Monday. The company has a market cap of $3.08 billion, a PE ratio of -28.90 and a beta of 1.10. The company has a 50 day moving average of $30.09 and a 200-day moving average of $34.45. Braze, Inc. has a 1-year low of $25.22 and a 1-year high of $48.33.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald initiated coverage on Braze in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $45.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, June 6th. Mizuho assumed coverage on Braze in a research note on Thursday. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Braze from $55.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Braze has a consensus rating of “Moderate Buy” and an average target price of $45.50.

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.