Blair William & Co. IL Buys 891 Shares of Braze, Inc. (NASDAQ:BRZE)

Blair William & Co. IL lifted its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 9.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,801 shares of the company’s stock after acquiring an additional 891 shares during the period. Blair William & Co. IL’s holdings in Braze were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 405 shares during the last quarter. GAMMA Investing LLC lifted its stake in Braze by 236.1% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after purchasing an additional 517 shares during the last quarter. Versant Capital Management Inc bought a new stake in Braze in the first quarter worth $54,000. IFP Advisors Inc lifted its stake in Braze by 15.3% in the first 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 last quarter. Finally, State of Wyoming bought a new stake in Braze in the fourth quarter worth $197,000. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Braze

In related news, insider Myles Kleeger sold 9,189 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $35.88, for a total transaction of $329,701.32. Following the sale, the insider owned 159,693 shares of the company’s stock, valued at $5,729,784.84. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Astha Malik sold 9,001 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $30.01, for a total transaction of $270,120.01. Following the sale, the insider directly owned 249,979 shares in the company, valued at $7,501,869.79. The trade was a 3.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock valued at $2,749,255 over the last three months. 18.20% of the stock is currently owned by corporate insiders.

Braze Price Performance

Shares of NASDAQ BRZE opened at $24.13 on Tuesday. Braze, Inc. has a 1 year low of $24.07 and a 1 year high of $48.33. The company’s 50-day moving average is $28.24 and its 200 day moving average is $33.17. The stock has a market capitalization of $2.55 billion, a P/E ratio of -23.89 and a beta of 1.10.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping 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 business had revenue of $162.06 million for the quarter, compared to analyst estimates of $158.60 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Braze’s quarterly revenue was up 19.6% on a year-over-year basis. Research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BRZE. Stephens set a $41.00 price target on shares of Braze and gave the stock an “overweight” rating in a research note on Friday, June 6th. Macquarie lowered their price target on shares of Braze from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, June 6th. Piper Sandler lowered their price target on shares of Braze from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a research report on Friday, June 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

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.