Amalgamated Bank Raises Stake in Braze, Inc. (NASDAQ:BRZE)

Amalgamated Bank increased its stake in Braze, Inc. (NASDAQ:BRZE) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,253 shares of the company’s stock after acquiring an additional 358 shares during the period. Amalgamated Bank’s holdings in Braze were worth $73,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd increased its stake in Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Quarry LP acquired a new stake in Braze during the 2nd quarter worth about $50,000. Comerica Bank raised its holdings in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying 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, Advisors Asset Management Inc. grew its stake in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after buying an additional 290 shares in the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Roger H. Lee sold 56,830 shares of Braze stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction 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 50.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares in the company, valued at $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,161 shares of company stock valued at $5,800,781 in the last three months. 24.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BRZE shares. Macquarie assumed coverage on Braze in a research report on Thursday, October 31st. They set a “neutral” rating and a $30.00 target price for the company. JPMorgan Chase & Co. cut their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. TD Cowen dropped their price objective on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Piper Sandler dropped their price objective on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Braze Stock Down 3.9 %

NASDAQ:BRZE opened at $35.06 on Monday. The company has a fifty day moving average of $32.83 and a 200-day moving average of $37.58. The firm has a market capitalization of $3.60 billion, a P/E ratio of -29.71 and a beta of 1.03. Braze, Inc. has a twelve month low of $29.18 and a twelve month high of $61.53.

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

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.