Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 78.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 371,600 shares of the company’s stock after acquiring an additional 163,000 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of Braze worth $14,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRZE. M&G Plc acquired a new stake in shares of Braze during the 1st quarter worth about $6,724,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Braze in the 4th quarter valued at approximately $5,397,000. Vanguard Group Inc. lifted its holdings in shares of Braze by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after acquiring an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Braze during the 1st quarter worth approximately $5,714,000. Finally, Swiss National Bank increased its holdings in Braze by 14.3% in the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after purchasing an additional 13,300 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Price Performance

BRZE stock opened at $36.39 on Friday. The business has a 50 day moving average price of $40.49 and a 200 day moving average price of $41.44. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -28.43 and a beta of 1.07. Braze, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data 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. The business had revenue of $145.50 million during 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 revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. As a group, sell-side analysts anticipate that Braze, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 9,178 shares of Braze stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the sale, the insider now owns 206,340 shares in the company, valued at $8,536,285.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Pankaj Malik sold 2,262 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the sale, the chief accounting officer now owns 74,361 shares in the company, valued at approximately $2,836,128.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Myles Kleeger sold 9,178 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $379,693.86. Following the transaction, the insider now directly owns 206,340 shares in the company, valued at $8,536,285.80. The disclosure for this sale can be found here. Insiders sold 188,727 shares of company stock worth $8,140,693 over the last 90 days. Corporate insiders own 24.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BRZE. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $56.00 in a research note on Wednesday, July 10th. DA Davidson reiterated a “buy” rating and set a $65.00 price target on shares of Braze in a research note on Friday, September 6th. Barclays lowered their price objective 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. BTIG Research cut their target price on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Citigroup boosted their price target on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Braze has an average rating of “Buy” and a consensus target price of $60.50.

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.