Rhumbline Advisers Purchases 2,407 Shares of Braze, Inc. (NASDAQ:BRZE)

Rhumbline Advisers raised its position in shares of Braze, Inc. (NASDAQ:BRZE) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,371 shares of the company’s stock after buying an additional 2,407 shares during the quarter. Rhumbline Advisers owned about 0.07% of Braze worth $2,927,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of Braze during the 4th quarter valued at about $40,000. Covestor Ltd raised its position 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 period. Comerica Bank raised its position in Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares during the period. Canton Hathaway LLC lifted its stake 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 last quarter. Finally, RiverPark Advisors LLC boosted its holdings in shares of Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after purchasing an additional 1,411 shares during the period. Institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BTIG Research lowered their price target on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Oppenheimer reaffirmed an “outperform” rating and set a $60.00 price target on shares of Braze in a research note on Wednesday, June 12th. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of Braze in a research report on Friday, September 6th. TD Cowen dropped their target price on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Citigroup upped their target price on Braze from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze currently has a consensus rating of “Buy” and a consensus price target of $60.50.

Braze Stock Performance

Shares of NASDAQ BRZE opened at $34.99 on Thursday. Braze, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $61.53. The company has a market cap of $3.56 billion, a PE ratio of -27.34 and a beta of 1.07. The business has a 50-day simple moving average of $40.64 and a two-hundred day simple moving average of $41.74.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. Braze’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Braze

In other news, insider Myles Kleeger sold 50,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the transaction, the insider now directly owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the sale, the insider now directly owns 199,963 shares of the company’s stock, valued at approximately $9,128,310.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $39.06, for a total transaction of $175,770.00. Following the transaction, the chief financial officer now directly owns 242,627 shares of the company’s stock, valued at approximately $9,477,010.62. The disclosure for this sale can be found here. Insiders have sold a total of 191,345 shares of company stock valued at $8,232,925 in the last ninety days. Company insiders own 24.03% of the company’s stock.

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.