Braze, Inc. (NASDAQ:BRZE) Shares Purchased by KBC Group NV

KBC Group NV increased its position in shares of Braze, Inc. (NASDAQ:BRZE) by 41.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,097 shares of the company’s stock after buying an additional 615 shares during the quarter. KBC Group NV’s holdings in Braze were worth $68,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BRZE. Victory Capital Management Inc. grew its position in shares of Braze by 5.0% during the third quarter. Victory Capital Management Inc. now owns 411,544 shares of the company’s stock worth $13,309,000 after acquiring an additional 19,567 shares during the last quarter. WCM Investment Management LLC boosted its stake in Braze by 14.4% during the 3rd quarter. WCM Investment Management LLC now owns 398,022 shares of the company’s stock worth $13,222,000 after purchasing an additional 50,113 shares during the period. Assetmark Inc. grew its position in Braze by 7.6% during the 3rd quarter. Assetmark Inc. now owns 27,181 shares of the company’s stock worth $879,000 after purchasing an additional 1,923 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in Braze in the third quarter valued at $1,122,000. Finally, M&G PLC raised its holdings in shares of Braze by 53.1% in the third quarter. M&G PLC now owns 262,963 shares of the company’s stock valued at $8,415,000 after buying an additional 91,161 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 3,432 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.45, for a total value of $118,232.40. Following the transaction, the chief accounting officer now directly owns 67,095 shares in the company, valued at approximately $2,311,422.75. This represents a 4.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the insider now owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 190,479 shares of company stock worth $7,148,911. 24.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered 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. Stifel Nicolaus began coverage on Braze in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 target price on the stock. Macquarie assumed coverage on Braze in a research note on Thursday, October 31st. They set a “neutral” rating and a $30.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Braze from $65.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Braze currently has an average rating of “Moderate Buy” and an average target price of $54.47.

Braze Price Performance

Shares of NASDAQ:BRZE opened at $38.71 on Friday. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -32.80 and a beta of 1.03. The business’s 50 day simple moving average is $32.99 and its 200-day simple moving average is $37.42. Braze, Inc. has a 12 month low of $29.18 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last posted its earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping 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 company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same period in the previous year, the business earned ($0.30) earnings per share. Braze’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Braze, Inc. will post -1.02 earnings per share for the current 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.