Braze, Inc. (NASDAQ:BRZE) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Braze, Inc. (NASDAQ:BRZE) by 488,050.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,763 shares of the company’s stock after acquiring an additional 9,761 shares during the period. PNC Financial Services Group Inc.’s holdings in Braze were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Braze by 168.0% during the 4th 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 period. GAMMA Investing LLC lifted its position in 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 buying an additional 517 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Braze during the first quarter worth approximately $54,000. IFP Advisors Inc grew its stake in Braze by 15.3% during the first quarter. IFP Advisors Inc now owns 3,386 shares of the company’s stock worth $122,000 after buying an additional 449 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Braze in the fourth quarter worth $197,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analysts Set New Price Targets

BRZE has been the topic of several research reports. Raymond James Financial cut their price objective on Braze from $48.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, June 6th. Cantor Fitzgerald began coverage on Braze in a research report on Tuesday, June 3rd. They issued an “overweight” rating and a $45.00 target price on the stock. UBS Group decreased their price target on shares of Braze from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, June 6th. Piper Sandler dropped 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. Finally, Macquarie cut their price target on shares of Braze from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. One investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Braze Stock Up 3.9%

Shares of BRZE stock opened at $25.50 on Friday. The company has a market cap of $2.69 billion, a P/E ratio of -25.25 and a beta of 1.10. The business has a 50 day moving average of $27.45 and a two-hundred day moving average of $32.75. Braze, Inc. has a 52 week low of $23.91 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE) last announced 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 the consensus estimate of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. Analysts expect that Braze, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Susan Wiseman sold 4,786 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $27.08, for a total transaction of $129,604.88. Following the completion of the transaction, the general counsel owned 239,655 shares in the company, valued at approximately $6,489,857.40. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Myles Kleeger sold 9,189 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,701.32. Following the completion of the sale, the insider directly owned 159,693 shares in the company, valued at approximately $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 a total of 79,270 shares of company stock valued at $2,749,255 in the last three months. 18.20% of the stock is owned by corporate insiders.

Braze Company 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.