Algert Global LLC Purchases New Shares in Braze, Inc. (NASDAQ:BRZE)

Algert Global LLC acquired a new position in Braze, Inc. (NASDAQ:BRZE) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 61,176 shares of the company’s stock, valued at approximately $2,376,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 buying an additional 148,366 shares during the period. Champlain Investment Partners LLC grew its holdings in Braze by 6.6% in the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock worth $92,357,000 after purchasing an additional 128,645 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Braze by 537.4% during the fourth quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock valued at $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of Braze by 1.0% during the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after purchasing an additional 7,570 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Braze by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock worth $18,554,000 after purchasing an additional 73,764 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer lowered their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. DA Davidson lowered their price target on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. UBS Group cut their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Loop Capital reaffirmed a “buy” rating and issued a $75.00 target price on shares of Braze in a report on Tuesday, September 24th. Finally, Citigroup upped their target price 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. Eighteen 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 $59.18.

Insiders Place Their Bets

In other news, General Counsel Susan Wiseman sold 3,447 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Susan Wiseman sold 3,447 shares of Braze stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the transaction, the general counsel now directly owns 206,930 shares of the company’s stock, valued at approximately $9,104,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Pankaj Malik sold 1,381 shares of the business’s stock in a transaction that occurred 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 owns 72,980 shares of the company’s stock, valued at $3,000,937.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,965 shares of company stock worth $7,878,650. Company insiders own 24.03% of the company’s stock.

Braze Stock Performance

Braze stock opened at $31.92 on Thursday. Braze, Inc. has a one year low of $31.71 and a one year high of $61.53. The stock has a fifty day moving average of $39.43 and a 200 day moving average of $40.38. The stock has a market cap of $3.24 billion, a PE ratio of -25.09 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $145.50 million during the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, sell-side analysts predict that Braze, Inc. will post -1.02 EPS for the current fiscal year.

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.