Braze, Inc. (NASDAQ:BRZE) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,746,572 shares of the company’s stock after buying an additional 480,179 shares during the quarter. Vanguard Group Inc. owned about 5.76% of Braze worth $305,315,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. raised its holdings in Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares during the last quarter. Morgan Stanley raised its holdings in Braze by 20.1% during the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after purchasing an additional 899,894 shares during the last quarter. Norges Bank acquired a new position in Braze during the fourth quarter worth $37,584,000. Fiera Capital Corp acquired a new position in Braze during the fourth quarter worth $31,153,000. Finally, Federated Hermes Inc. raised its holdings in Braze by 90.7% during the fourth quarter. Federated Hermes Inc. now owns 503,994 shares of the company’s stock worth $26,777,000 after purchasing an additional 239,742 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Trading Up 2.0 %

NASDAQ BRZE opened at $38.84 on Friday. The business’s 50-day moving average price is $39.30 and its 200 day moving average price is $47.52. Braze, Inc. has a twelve month low of $33.93 and a twelve month high of $61.53. The company has a market capitalization of $3.95 billion, a PE ratio of -30.34 and a beta of 1.06.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.01. The company had revenue of $135.46 million during the quarter, compared to analyst estimates of $131.56 million. Braze had a negative return on equity of 27.85% and a negative net margin of 25.06%. Equities analysts predict that Braze, Inc. will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other Braze news, Director Fernando Machado sold 2,361 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $42.46, for a total transaction of $100,248.06. Following the completion of the sale, the director now directly owns 6,101 shares in the company, valued at $259,048.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Fernando Machado sold 2,361 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $42.46, for a total value of $100,248.06. Following the completion of the sale, the director now owns 6,101 shares in the company, valued at $259,048.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the sale, the chief accounting officer now owns 76,623 shares of the company’s stock, valued at approximately $2,699,428.29. The disclosure for this sale can be found here. Insiders sold 80,232 shares of company stock worth $3,360,249 over the last three months. 24.03% of the stock is owned by insiders.

Analysts Set New Price Targets

BRZE has been the subject of several research reports. Raymond James reduced their price objective on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, June 7th. JPMorgan Chase & Co. cut their price target on Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Friday, June 7th. William Blair reissued an “outperform” rating on shares of Braze in a report on Thursday, March 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Braze in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.88.

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.