Creative Planning Grows Stake in Braze, Inc. (NASDAQ:BRZE)

Creative Planning increased its stake in Braze, Inc. (NASDAQ:BRZE) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,121 shares of the company’s stock after purchasing an additional 384 shares during the quarter. Creative Planning’s holdings in Braze were worth $898,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BRZE. Vanguard Group Inc. raised its holdings in Braze by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock worth $305,315,000 after purchasing an additional 480,179 shares during the period. Granite Investment Partners LLC bought a new position in Braze in the 2nd quarter worth $12,925,000. Peregrine Capital Management LLC bought a new position in Braze in the 2nd quarter worth $7,349,000. Industry Ventures L.L.C. bought a new position in Braze in the 2nd quarter worth $7,332,000. Finally, Renaissance Technologies LLC raised its holdings in Braze by 78.1% in the 2nd quarter. Renaissance Technologies LLC now owns 371,600 shares of the company’s stock worth $14,433,000 after purchasing an additional 163,000 shares during the period. 90.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the transaction, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Braze news, CFO Isabelle Winkles sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $32.12, for a total transaction of $144,540.00. Following the completion of the transaction, the chief financial officer now owns 216,208 shares in the company, valued at $6,944,600.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the transaction, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,284 shares of company stock worth $7,928,732. Corporate insiders own 24.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of recent research reports. Loop Capital reaffirmed a “buy” rating and issued a $75.00 target price on shares of Braze in a report on Tuesday, September 24th. Piper Sandler decreased their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays decreased their price target on Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer decreased their price target on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, TD Cowen decreased their price target on Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $58.53.

Braze Trading Up 2.6 %

BRZE opened at $30.71 on Friday. The firm has a market cap of $3.12 billion, a P/E ratio of -23.99 and a beta of 1.03. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53. The stock has a 50-day moving average of $37.64 and a 200 day moving average of $39.36.

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. The company had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. On average, research analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current fiscal 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.