Evoke Wealth LLC Invests $215,000 in Braze, Inc. (NASDAQ:BRZE)

Evoke Wealth LLC purchased a new position in shares of Braze, Inc. (NASDAQ:BRZE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,539 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds have also recently added to or reduced their stakes in BRZE. M&G Plc purchased a new stake in shares of Braze during the first quarter worth $6,724,000. Occudo Quantitative Strategies LP purchased a new stake in Braze during the 4th quarter valued at about $5,397,000. Vanguard Group Inc. raised its holdings in Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after acquiring an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Braze in the 1st quarter valued at about $5,714,000. Finally, Swiss National Bank lifted its stake in Braze by 14.3% in the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after purchasing an additional 13,300 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BRZE. Barclays dropped their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. TD Cowen reduced their price target on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Citigroup boosted their price target on shares of Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Oppenheimer restated an “outperform” rating and set a $60.00 price objective on shares of Braze in a research report on Wednesday, June 12th. Finally, DA Davidson reiterated a “buy” rating and issued a $65.00 target price on shares of Braze in a report on Friday, September 6th. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze has a consensus rating of “Buy” and an average target price of $60.50.

Insider Activity

In related news, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the sale, the insider now owns 206,340 shares in the company, valued at $8,536,285.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now owns 206,930 shares of the company’s stock, valued at $9,104,920. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the sale, the insider now directly owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,727 shares of company stock worth $8,140,693. 24.03% of the stock is currently owned by insiders.

Braze Price Performance

NASDAQ BRZE opened at $36.39 on Friday. Braze, Inc. has a 52 week low of $33.24 and a 52 week high of $61.53. The firm has a 50 day moving average of $40.49 and a two-hundred day moving average of $41.44. The stock has a market capitalization of $3.70 billion, a PE ratio of -28.43 and a beta of 1.07.

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

About Braze

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.