Diversified Trust Co Buys 4,551 Shares of Braze, Inc. (NASDAQ:BRZE)

Diversified Trust Co grew its stake in Braze, Inc. (NASDAQ:BRZE) by 28.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,728 shares of the company’s stock after purchasing an additional 4,551 shares during the quarter. Diversified Trust Co’s holdings in Braze were worth $918,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new position in shares of Braze in the fourth quarter valued at about $40,000. Canton Hathaway LLC acquired a new stake in Braze during the fourth quarter worth about $42,000. HighTower Advisors LLC grew its stake in Braze by 6.6% during the third quarter. HighTower Advisors LLC now owns 5,434 shares of the company’s stock worth $256,000 after buying an additional 335 shares in the last quarter. Raymond James & Associates acquired a new stake in Braze during the fourth quarter worth about $304,000. Finally, Seven Eight Capital LP acquired a new stake in Braze during the third quarter worth about $283,000. 90.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BRZE. JPMorgan Chase & Co. dropped their target price on shares of Braze from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 28th. Piper Sandler dropped their target price on shares of Braze from $66.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, June 7th. BTIG Research dropped their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. Canaccord Genuity Group raised their price objective on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.88.

Insider Activity at Braze

In other Braze news, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Braze news, CEO William Magnuson sold 17,839 shares of Braze stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.76, for a total transaction of $744,956.64. Following the transaction, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Susan Wiseman sold 7,600 shares of Braze stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $43.06, for a total transaction of $327,256.00. Following the transaction, the general counsel now directly owns 206,358 shares in the company, valued at $8,885,775.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,232 shares of company stock valued at $3,360,249. 24.03% of the stock is owned by company insiders.

Braze Trading Up 1.5 %

NASDAQ BRZE opened at $39.41 on Tuesday. The company has a fifty day simple moving average of $39.29 and a 200 day simple moving average of $47.35. Braze, Inc. has a 12-month low of $33.93 and a 12-month high of $61.53. The company has a market cap of $4.01 billion, a P/E ratio of -30.79 and a beta of 1.06.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.01. Braze had a negative net margin of 25.06% and a negative return on equity of 27.85%. The business had revenue of $135.46 million during the quarter, compared to the consensus estimate of $131.56 million. Sell-side analysts predict that Braze, Inc. will post -1.21 EPS for the current 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.