Point72 Asset Management L.P. Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Point72 Asset Management L.P. acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 261,736 shares of the company’s stock, valued at approximately $10,166,000. Point72 Asset Management L.P. owned approximately 0.26% of Braze at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc purchased a new position in Braze during the first quarter valued at $6,724,000. Occudo Quantitative Strategies LP purchased a new position in shares of Braze during the fourth quarter valued at about $5,397,000. Vanguard Group Inc. increased its holdings in shares of Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Braze in the first quarter worth about $5,714,000. Finally, Swiss National Bank boosted its stake in Braze by 14.3% during the first quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after buying an additional 13,300 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 price objective on shares of Braze in a research note on Friday, September 6th. Oppenheimer reduced their price target on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Raymond James lowered their price objective on shares of Braze from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, June 7th. DA Davidson reduced their target price on shares of Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, TD Cowen decreased their target price on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $59.18.

Braze Stock Performance

Shares of BRZE opened at $32.34 on Tuesday. The stock has a market capitalization of $3.29 billion, a PE ratio of -25.27 and a beta of 1.07. The company has a 50 day moving average price of $39.59 and a 200-day moving average price of $40.51. Braze, Inc. has a fifty-two week low of $31.80 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the previous year, the company posted ($0.30) EPS. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities research analysts forecast that Braze, Inc. will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other Braze news, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total value of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,104,920. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Susan Wiseman sold 3,447 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the sale, the general counsel now directly owns 206,930 shares of the company’s stock, valued at $9,104,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $43.41, for a total transaction of $195,345.00. Following the completion of the transaction, the chief financial officer now owns 216,208 shares of the company’s stock, valued at approximately $9,385,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,965 shares of company stock valued at $7,878,650. 24.03% of the stock is owned by insiders.

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.