Citizens Financial Group Inc. RI Takes Position in Braze, Inc. (NASDAQ:BRZE)

Citizens Financial Group Inc. RI bought a new position in shares of Braze, Inc. (NASDAQ:BRZE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,550 shares of the company’s stock, valued at approximately $565,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of Braze in the 4th quarter valued at approximately $40,000. Covestor Ltd increased its holdings in Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after buying an additional 738 shares during the last quarter. Comerica Bank lifted its holdings in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the last quarter. Canton Hathaway LLC boosted its position in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. Finally, RiverPark Advisors LLC increased its holdings in shares of Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after acquiring an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Price Performance

Braze stock opened at $34.99 on Thursday. The stock’s 50 day moving average price is $40.64 and its 200 day moving average price is $41.74. The company has a market cap of $3.56 billion, a PE ratio of -27.34 and a beta of 1.07. Braze, Inc. has a 1-year low of $33.24 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The company had revenue of $145.50 million during the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. On average, equities research analysts anticipate that Braze, Inc. will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

BRZE has been the topic of several recent analyst reports. BTIG Research dropped their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. DA Davidson reiterated a “buy” rating and set a $65.00 price target on shares of Braze in a research note on Friday, September 6th. Oppenheimer restated an “outperform” rating and issued a $60.00 price objective on shares of Braze in a research note on Wednesday, June 12th. Piper Sandler reiterated an “overweight” rating and set a $51.00 target price on shares of Braze in a research report on Friday, September 6th. Finally, Raymond James decreased their target price on Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $60.50.

Insider Buying and Selling at Braze

In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the sale, the chief financial officer now owns 242,627 shares in the company, valued at approximately $9,477,010.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of Braze stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $39.06, for a total value of $175,770.00. Following the completion of the sale, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jonathan Hyman sold 6,895 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $285,246.15. Following the completion of the transaction, the chief technology officer now owns 169,950 shares of the company’s stock, valued at $7,030,831.50. The disclosure for this sale can be found here. Insiders have sold 191,345 shares of company stock valued at $8,232,925 over the last quarter. Corporate insiders own 24.03% of the company’s stock.

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.