21,565 Shares in Braze, Inc. (NASDAQ:BRZE) Bought by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,565 shares of the company’s stock, valued at approximately $838,000.

Other institutional investors have also bought and sold shares of the company. M&G Plc purchased a new stake in shares of Braze during the 1st quarter valued at about $6,724,000. Occudo Quantitative Strategies LP bought a new stake in Braze during the fourth quarter worth approximately $5,397,000. Vanguard Group Inc. raised its position in Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after purchasing an additional 148,366 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Braze in the 1st quarter valued at approximately $5,714,000. Finally, Swiss National Bank boosted its holdings in shares of 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 during the period. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research report on Tuesday. DA Davidson lowered their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Tuesday. Raymond James reduced their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, June 7th. Finally, Piper Sandler restated an “overweight” rating and set a $51.00 target price on shares of Braze in a research report on Friday, September 6th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze currently has an average rating of “Buy” and an average target price of $59.82.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the transaction, the insider now directly owns 199,963 shares in the company, valued at approximately $9,128,310.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.65, for a total transaction of $2,282,500.00. Following the transaction, the insider now owns 199,963 shares in the company, valued at $9,128,310.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Isabelle Winkles sold 10,000 shares of Braze stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.15, for a total transaction of $451,500.00. Following the transaction, the chief financial officer now directly owns 216,208 shares in the company, valued at $9,761,791.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,727 shares of company stock worth $8,140,693. Insiders own 24.03% of the company’s stock.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $32.64 on Wednesday. Braze, Inc. has a 1 year low of $31.80 and a 1 year high of $61.53. The firm has a market capitalization of $3.32 billion, a PE ratio of -25.50 and a beta of 1.07. The business’s 50 day moving average price is $40.20 and its 200-day moving average price is $41.08.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. As a group, analysts expect that Braze, Inc. will post -1.05 earnings per share for the current year.

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.