20,806 Shares in Braze, Inc. (NASDAQ:BRZE) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in Braze, Inc. (NASDAQ:BRZE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 20,806 shares of the company’s stock, valued at approximately $673,000.

A number of other large investors have also bought and sold shares of the stock. Quarry LP purchased a new stake in Braze during the 2nd quarter valued at $50,000. Comerica Bank boosted its position in Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares in the last quarter. KBC Group NV grew its holdings in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares during the period. Amalgamated Bank lifted its stake in shares of Braze by 18.9% in the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after purchasing an additional 358 shares during the period. Finally, Canton Hathaway LLC grew its stake in Braze by 149.9% in the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after purchasing an additional 1,187 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Braze

In other Braze news, major shareholder Roger H. Lee sold 56,830 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,479 shares of company stock valued at $4,414,911 over the last three months. 24.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. TD Cowen decreased their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Loop Capital reissued a “buy” rating and issued a $75.00 target price on shares of Braze in a report on Tuesday, September 24th. Barclays reduced their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Piper Sandler lowered 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. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Braze currently has an average rating of “Moderate Buy” and an average price target of $53.95.

Braze Trading Up 2.3 %

BRZE stock opened at $39.72 on Friday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -33.66 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 firm has a 50 day moving average of $33.34 and a 200-day moving average of $37.38.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data 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 for 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%. The company’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. Sell-side analysts forecast 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.