Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Braze, Inc. (NASDAQ:BRZE) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,117 shares of the company’s stock after purchasing an additional 1,470 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Braze were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC lifted its holdings in shares of Braze by 168.0% in the 4th 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 during the period. GAMMA Investing LLC lifted its holdings in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $27,000 after acquiring an additional 517 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in Braze by 9,188.9% in 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 period. Versant Capital Management Inc purchased a new stake in shares of Braze during the 1st quarter worth $54,000. Finally, IFP Advisors Inc grew its stake in shares of Braze by 15.3% during the 1st quarter. IFP Advisors Inc now owns 3,386 shares of the company’s stock worth $122,000 after purchasing an additional 449 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research analyst reports. UBS Group decreased their price objective on shares of Braze from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, June 6th. Barclays decreased their price target on Braze from $70.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Stephens set a $41.00 price objective on Braze and gave the company an “overweight” rating in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. lowered their target price on Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Insider Buying and Selling at Braze

In related news, insider Astha Malik sold 9,001 shares of the company’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $30.01, for a total value of $270,120.01. Following the completion of the transaction, the insider directly owned 249,979 shares in the company, valued at approximately $7,501,869.79. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Magnuson sold 25,089 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total value of $900,193.32. Following the completion of the sale, the chief executive officer directly owned 745,769 shares in the company, valued at approximately $26,758,191.72. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,270 shares of company stock valued at $2,749,255. 18.20% of the stock is currently owned by insiders.

Braze Price Performance

Braze stock opened at $26.98 on Wednesday. The stock has a market capitalization of $2.85 billion, a P/E ratio of -26.71 and a beta of 1.10. 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 $29.10 and its two-hundred day moving average is $33.78.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm 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%. Braze’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. As a group, analysts forecast that Braze, Inc. will post -0.98 EPS for the current 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.