45,874 Shares in Braze, Inc. $BRZE Purchased by Archon Capital Management LLC

Archon Capital Management LLC purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 45,874 shares of the company’s stock, valued at approximately $1,289,000. Braze accounts for about 1.1% of Archon Capital Management LLC’s investment portfolio, making the stock its 29th largest holding.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Braze by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 8,911,907 shares of the company’s stock worth $321,542,000 after purchasing an additional 447,746 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Braze by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 2,316,234 shares of the company’s stock worth $65,086,000 after buying an additional 64,025 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Braze by 10.9% during the second quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock worth $50,517,000 after buying an additional 177,391 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Braze by 5.7% during the second quarter. Westfield Capital Management Co. LP now owns 1,600,304 shares of the company’s stock valued at $44,969,000 after buying an additional 85,791 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Braze in the first quarter valued at $50,988,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Insider Transactions at Braze

In other Braze news, CEO William Magnuson sold 26,698 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $26.64, for a total transaction of $711,234.72. Following the completion of the sale, the chief executive officer owned 694,746 shares of the company’s stock, valued at $18,508,033.44. This trade represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Wiseman sold 5,474 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $26.64, for a total value of $145,827.36. Following the completion of the transaction, the general counsel directly owned 224,250 shares in the company, valued at approximately $5,974,020. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 68,557 shares of company stock valued at $1,856,089 in the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BRZE has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $68.00 target price on shares of Braze in a research note on Friday, September 5th. Piper Sandler reiterated an “overweight” rating and set a $50.00 price target on shares of Braze in a research report on Wednesday, October 1st. Cantor Fitzgerald raised their price objective on Braze from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, September 5th. UBS Group reduced their target price on Braze from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Braze in a research report on Wednesday, October 8th. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Braze Stock Up 1.7%

NASDAQ BRZE opened at $29.87 on Friday. The business’s fifty day simple moving average is $28.02 and its 200-day simple moving average is $28.81. The firm has a market cap of $3.32 billion, a PE ratio of -28.72 and a beta of 1.10. Braze, Inc. has a 52 week low of $23.91 and a 52 week high of $48.33.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 4th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25). Braze had a negative return on equity of 17.97% and a negative net margin of 16.62%.The firm had revenue of $180.11 million for the quarter, compared to analysts’ expectations of $171.63 million. During the same period last year, the firm earned $0.09 earnings per share. Braze’s revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts expect that Braze, Inc. will post -0.98 EPS for the current year.

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.