Barclays PLC Has $39.94 Million Position in Braze, Inc. $BRZE

Barclays PLC raised its stake in Braze, Inc. (NASDAQ:BRZE) by 443.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,404,395 shares of the company’s stock after buying an additional 1,145,748 shares during the period. Barclays PLC owned about 1.26% of Braze worth $39,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC raised its holdings in Braze by 10.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,687,928 shares of the company’s stock worth $76,445,000 after purchasing an additional 261,351 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Braze by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,455,367 shares of the company’s stock valued at $69,831,000 after purchasing an additional 139,133 shares in the last quarter. Alliancebernstein L.P. grew its stake in Braze by 28.8% during the second quarter. Alliancebernstein L.P. now owns 2,320,171 shares of the company’s stock worth $65,197,000 after purchasing an additional 518,103 shares during the period. Westfield Capital Management Co. LP increased its holdings in Braze by 36.1% in the third quarter. Westfield Capital Management Co. LP now owns 2,177,953 shares of the company’s stock worth $61,941,000 after purchasing an additional 577,649 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Braze by 10.9% in the second quarter. Geode Capital Management LLC now owns 1,797,546 shares of the company’s stock valued at $50,517,000 after buying an additional 177,391 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Down 6.6%

Shares of NASDAQ:BRZE opened at $18.69 on Wednesday. Braze, Inc. has a twelve month low of $15.26 and a twelve month high of $43.89. The stock’s 50 day moving average is $22.52 and its 200-day moving average is $27.18. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -16.99 and a beta of 1.08.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Braze had a negative net margin of 16.85% and a negative return on equity of 17.87%. The business had revenue of $190.84 million during the quarter, compared to the consensus estimate of $198.25 million. During the same quarter last year, the firm posted $0.02 EPS. Braze’s revenue was up 25.5% compared to the same quarter last year. Equities research analysts anticipate that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Braze news, CAO Pankaj Malik sold 5,540 shares of Braze stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $35.76, for a total transaction of $198,110.40. Following the completion of the transaction, the chief accounting officer owned 53,572 shares in the company, valued at approximately $1,915,734.72. The trade was a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Magnuson sold 26,413 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.93, for a total value of $447,172.09. Following the completion of the sale, the chief executive officer directly owned 4,491,098 shares of the company’s stock, valued at approximately $76,034,289.14. This trade represents a 0.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 66,216 shares of company stock worth $1,225,772 in the last 90 days. Company insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

BRZE has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Braze in a report on Monday, December 29th. Stifel Nicolaus set a $40.00 target price on shares of Braze in a research report on Monday, February 9th. Citigroup increased their target price on shares of Braze from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Oppenheimer restated an “outperform” rating and issued a $40.00 price target on shares of Braze in a report on Wednesday, December 10th. Finally, Wells Fargo & Company lifted their price target on shares of Braze from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Braze currently has a consensus rating of “Moderate Buy” and an average target price of $44.30.

About Braze

Braze, Inc is a publicly traded software company (NASDAQ: BRZE) that offers a customer engagement platform designed to help brands build personalized relationships with their users. Founded in 2011 as Appboy by Bill Magnuson, Jon Hyman and Mark Ghermezian, the company adopted the Braze name in 2017 to underscore its focus on fostering strong connections between businesses and consumers. Its cloud-based platform consolidates messaging channels including push notifications, in-app messages, email and SMS, enabling companies to deliver timely, context-driven communications at scale.

The core functionality of Braze’s platform centers on data-driven segmentation, customer journey orchestration and real-time analytics.