The Manufacturers Life Insurance Company Has $1.34 Million Stake in Braze, Inc. (NASDAQ:BRZE)

The Manufacturers Life Insurance Company grew its holdings in Braze, Inc. (NASDAQ:BRZE) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,593 shares of the company’s stock after purchasing an additional 3,858 shares during the period. The Manufacturers Life Insurance Company’s holdings in Braze were worth $1,344,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BRZE. Neo Ivy Capital Management acquired a new position in shares of Braze in the 4th quarter valued at about $40,000. Covestor Ltd increased its holdings in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the period. Comerica Bank increased its holdings in shares of Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. Canton Hathaway LLC increased its holdings in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after purchasing an additional 1,187 shares during the period. 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 purchasing an additional 1,411 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 9,178 shares of the stock in a transaction 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 transaction, the insider now directly owns 206,340 shares in the company, valued at $8,536,285.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Pankaj Malik sold 1,381 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the completion of the sale, the chief accounting officer now directly owns 72,980 shares in the company, valued at approximately $3,000,937.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Myles Kleeger sold 9,178 shares of the firm’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 $379,693.86. Following the completion of the sale, the insider now owns 206,340 shares of the company’s stock, valued at approximately $8,536,285.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,284 shares of company stock worth $7,928,732 over the last three months. 24.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BRZE. Oppenheimer lowered their price target on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Piper Sandler lowered their price target on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a research note on Tuesday, September 24th. Scotiabank raised Braze from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $48.00 to $56.00 in a research note on Wednesday, July 10th. Finally, DA Davidson lowered their price target on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $58.53.

Braze Trading Up 2.6 %

Shares of NASDAQ BRZE opened at $30.71 on Friday. The business has a fifty day simple moving average of $37.64 and a 200 day simple moving average of $39.36. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03. Braze, Inc. has a one year low of $29.18 and a one year high of $61.53.

Braze (NASDAQ:BRZE) last issued its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. During the same period in the prior year, the company posted ($0.30) earnings per share. Braze’s revenue was up 26.4% on a year-over-year basis. On average, research analysts anticipate that Braze, Inc. will post -1.02 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.