Captrust Financial Advisors purchased a new stake in Braze, Inc. (NASDAQ:BRZE – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,439 shares of the company’s stock, valued at approximately $270,000.
A number of other hedge funds have also modified their holdings of BRZE. Proficio Capital Partners LLC acquired a new stake in Braze during the 4th quarter worth approximately $498,000. Thrivent Financial for Lutherans acquired a new stake in Braze during the 4th quarter worth approximately $708,000. Barclays PLC raised its holdings in Braze by 148.1% during the 3rd quarter. Barclays PLC now owns 107,358 shares of the company’s stock worth $3,472,000 after buying an additional 64,093 shares during the period. Pictet Asset Management Holding SA raised its holdings in Braze by 27.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,935 shares of the company’s stock worth $374,000 after buying an additional 1,938 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Braze during the 4th quarter worth approximately $549,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.
Braze Trading Down 2.3%
NASDAQ:BRZE opened at $34.63 on Thursday. Braze, Inc. has a 1-year low of $27.45 and a 1-year high of $48.33. The firm has a fifty day simple moving average of $33.13 and a 200 day simple moving average of $37.92. The stock has a market capitalization of $3.62 billion, a PE ratio of -30.38 and a beta of 1.15.
Braze (NASDAQ:BRZE – Get Free Report) last released its earnings results on Thursday, March 27th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $160.40 million during the quarter, compared to analysts’ expectations of $155.72 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. On average, equities 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, Director Phillip M. Fernandez sold 1,500 shares of Braze stock in a transaction on Friday, March 28th. The shares were sold at an average price of $41.46, for a total transaction of $62,190.00. Following the completion of the transaction, the director now directly owns 15,269 shares of the company’s stock, valued at $633,052.74. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Myles Kleeger sold 9,189 shares of Braze stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.88, for a total transaction of $329,701.32. Following the transaction, the insider now directly owns 159,693 shares of the company’s stock, valued at approximately $5,729,784.84. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,150 shares of company stock valued at $2,540,814 over the last ninety days. 18.20% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have commented on BRZE shares. Stephens started coverage on shares of Braze in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group raised their price target on shares of Braze from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Citigroup raised their price target on shares of Braze from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Barclays decreased their price target on shares of Braze from $70.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Braze presently has a consensus rating of “Buy” and an average price target of $50.10.
Check Out Our Latest Research Report on BRZE
About Braze
(Free Report)
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.
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