Braze, Inc. (NASDAQ:BRZE) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in Braze, Inc. (NASDAQ:BRZE) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 509,767 shares of the company’s stock after purchasing an additional 57,713 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.50% of Braze worth $16,486,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Quarry LP acquired a new stake in shares of Braze in the 2nd quarter worth approximately $50,000. Canton Hathaway LLC grew 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 worth $77,000 after acquiring an additional 1,187 shares during the period. KBC Group NV increased its stake in Braze by 41.5% in the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock valued at $68,000 after purchasing an additional 615 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Analyst Ratings Changes

BRZE has been the topic of several research reports. Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company lowered their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Barclays cut their target price 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. Stifel Nicolaus began coverage on shares of Braze in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $37.00 price target on the stock. Finally, The Goldman Sachs Group cut their price objective on Braze from $65.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.95.

Braze Stock Performance

Shares of BRZE opened at $41.46 on Friday. The stock has a fifty day moving average of $34.10 and a two-hundred day moving average of $37.29. The company has a market capitalization of $4.26 billion, a PE ratio of -35.14 and a beta of 1.15. Braze, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $61.53.

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

Insider Transactions at Braze

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 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 directly owns 56,830 shares in the company, valued at $1,720,244.10. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jonathan Hyman sold 6,930 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.45, for a total value of $238,738.50. Following the sale, the chief technology officer now owns 163,020 shares of the company’s stock, valued at approximately $5,616,039. The trade was a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,979 shares of company stock worth $3,688,914 in the last ninety days. 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.