Braze, Inc. (NASDAQ:BRZE) Position Lifted by Creative Planning

Creative Planning raised its stake in Braze, Inc. (NASDAQ:BRZE) by 12.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,089 shares of the company’s stock after purchasing an additional 2,968 shares during the period. Creative Planning’s holdings in Braze were worth $844,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BRZE. Allspring Global Investments Holdings LLC increased its holdings in shares of Braze by 0.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,625 shares of the company’s stock valued at $13,406,000 after acquiring an additional 984 shares during the last quarter. RiverPark Advisors LLC increased its stake in Braze by 360.9% during the first 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 last quarter. Quantbot Technologies LP increased its stake in Braze by 17.7% during the first quarter. Quantbot Technologies LP now owns 54,387 shares of the company’s stock valued at $2,409,000 after purchasing an additional 8,184 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Braze during the first quarter worth $114,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Braze by 15.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,938 shares of the company’s stock worth $307,000 after buying an additional 923 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler cut their price target on Braze from $51.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Braze in a research note on Tuesday, September 24th. Barclays lowered their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. Finally, Macquarie assumed coverage on shares of Braze in a research note on Thursday. They set a “neutral” rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Braze currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.32.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $31.67 on Friday. The firm has a 50 day moving average price of $34.62 and a two-hundred day moving average price of $38.04. The stock has a market cap of $3.25 billion, a P/E ratio of -26.84 and a beta of 1.03. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly 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. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Analysts predict that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Roger H. Lee sold 56,830 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.27, for a total value of $1,720,244.10. Following the completion of the sale, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Myles Kleeger sold 50,000 shares of Braze stock in a transaction dated 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 completion of the transaction, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,658 shares of company stock worth $7,980,396 in the last quarter. Insiders own 24.03% of the company’s stock.

Braze Company 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.