HighTower Advisors LLC Purchases 3,071 Shares of Braze, Inc. (NASDAQ:BRZE)

HighTower Advisors LLC raised its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,007 shares of the company’s stock after purchasing an additional 3,071 shares during the period. HighTower Advisors LLC’s holdings in Braze were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BRZE. Harbor Capital Advisors Inc. raised its stake in Braze by 3.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,828 shares of the company’s stock valued at $453,000 after buying an additional 346 shares during the last quarter. KBC Group NV raised its position in shares of Braze by 39.7% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company’s stock valued at $123,000 after purchasing an additional 832 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Braze during the 4th quarter worth approximately $47,000. Arizona State Retirement System increased its stake in Braze by 7.2% during the 4th quarter. Arizona State Retirement System now owns 17,928 shares of the company’s stock valued at $751,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Braze by 9.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,647 shares of the company’s stock worth $823,000 after buying an additional 1,743 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Trading Up 2.2 %

Shares of BRZE opened at $37.51 on Monday. The firm has a market capitalization of $3.88 billion, a P/E ratio of -32.90 and a beta of 1.17. The firm has a 50-day moving average price of $39.66 and a 200 day moving average price of $38.03. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $48.33.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Braze had a negative net margin of 20.41% and a negative return on equity of 24.88%. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. During the same period in the prior year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Braze news, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares of the company’s stock, valued at $6,441,804.20. The trade was a 3.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Pankaj Malik sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.77, for a total value of $169,349.00. Following the sale, the chief accounting officer now owns 54,784 shares of the company’s stock, valued at approximately $2,507,463.68. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,470 shares of company stock worth $3,841,921 in the last quarter. 24.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BRZE shares. DA Davidson reissued a “buy” rating and set a $50.00 price objective on shares of Braze in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Braze in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $51.00 target price on shares of Braze in a report on Tuesday, December 10th. Citigroup raised their price target on shares of Braze from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday. Finally, Macquarie increased their target price on shares of Braze from $30.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.00.

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.