Amalgamated Bank Grows Position in Braze, Inc. (NASDAQ:BRZE)

Amalgamated Bank grew its stake in shares of Braze, Inc. (NASDAQ:BRZE) by 18.9% in the third quarter, HoldingsChannel.com reports. The firm owned 2,253 shares of the company’s stock after buying an additional 358 shares during the quarter. Amalgamated Bank’s holdings in Braze were worth $73,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Braze by 401.1% during the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the period. Comerica Bank raised its holdings in shares of Braze by 29.4% during the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after acquiring an additional 276 shares in the last quarter. Quarry LP bought a new position in shares of Braze during the second quarter valued at approximately $50,000. Advisors Asset Management Inc. raised its holdings in shares of Braze by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after acquiring an additional 290 shares in the last quarter. Finally, Canton Hathaway LLC raised its holdings in shares of Braze by 149.9% during the second quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Price Performance

NASDAQ:BRZE opened at $35.06 on Monday. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The stock’s 50 day simple moving average is $32.83 and its two-hundred day simple moving average is $37.58. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -29.71 and a beta of 1.03.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler decreased their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Loop Capital restated a “buy” rating and set a $75.00 target price on shares of Braze in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. DA Davidson decreased their target price on Braze from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Oppenheimer decreased their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.47.

Insider Activity at Braze

In related news, major shareholder Roger H. Lee sold 56,830 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the completion of the transaction, the insider now owns 56,830 shares in the company, valued at $1,720,244.10. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fernando Machado sold 1,377 shares of Braze stock in a transaction on Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the sale, the director now directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 149,161 shares of company stock worth $5,800,781 in the last quarter. 24.03% of the stock is owned by company insiders.

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.