ProShare Advisors LLC Buys 846 Shares of Braze, Inc. (NASDAQ:BRZE)

ProShare Advisors LLC raised its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,845 shares of the company’s stock after purchasing an additional 846 shares during the quarter. ProShare Advisors LLC’s holdings in Braze were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. King Luther Capital Management Corp purchased a new position in shares of Braze during the 2nd quarter valued at about $3,479,000. Canada Pension Plan Investment Board bought a new position in Braze during the second quarter valued at approximately $229,000. Granite Investment Partners LLC purchased a new position in shares of Braze during the second quarter worth approximately $12,925,000. Seven Eight Capital LP lifted its holdings in shares of Braze by 78.1% in the 2nd quarter. Seven Eight Capital LP now owns 47,283 shares of the company’s stock worth $1,836,000 after acquiring an additional 20,741 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Braze by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BRZE shares. 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. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. JMP Securities restated a “market outperform” rating and set a $68.00 price target on shares of Braze in a research report on Tuesday, September 24th. DA Davidson lowered their price objective on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Canaccord Genuity Group raised their target price on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $59.18.

Braze Price Performance

Shares of BRZE stock opened at $33.22 on Monday. The company has a market cap of $3.38 billion, a PE ratio of -25.95 and a beta of 1.07. Braze, Inc. has a 1 year low of $31.80 and a 1 year high of $61.53. The stock’s 50 day simple moving average is $39.73 and its two-hundred day simple moving average is $40.65.

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

Insider Buying and Selling

In other news, CAO Pankaj Malik sold 1,381 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total value of $56,786.72. Following the completion of the transaction, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Braze news, CAO Pankaj Malik sold 1,381 shares of Braze stock in a transaction on Monday, July 15th. The shares were sold at an average price of $41.12, for a total value of $56,786.72. Following the transaction, the chief accounting officer now directly owns 72,980 shares of the company’s stock, valued at $3,000,937.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. The disclosure for this sale can be found here. Insiders sold 181,965 shares of company stock valued at $7,878,650 over the last 90 days. Corporate 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.