Arnhold LLC Raises Position in Braze, Inc. (NASDAQ:BRZE)

Arnhold LLC increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,655 shares of the company’s stock after acquiring an additional 2,377 shares during the quarter. Arnhold LLC’s holdings in Braze were worth $407,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BRZE. Morgan Stanley lifted its stake in shares of Braze by 20.1% in the third quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after acquiring an additional 899,894 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Braze by 180.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after buying an additional 826,100 shares in the last quarter. Invesco Ltd. raised its stake in Braze by 167.5% during the third quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after buying an additional 810,295 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Braze during the third quarter valued at approximately $12,794,000. Finally, Federated Hermes Inc. acquired a new stake in Braze during the third quarter valued at approximately $12,373,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 15,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares in the company, valued at approximately $13,914,815.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.79, for a total value of $62,685.00. Following the completion of the sale, the director now directly owns 11,056 shares of the company’s stock, valued at approximately $462,030.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the sale, the insider now owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,815 shares of company stock valued at $4,164,679. 26.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BRZE has been the topic of several research reports. Raymond James cut their price objective on Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Braze in a research report on Thursday, March 28th. UBS Group upgraded Braze from a “neutral” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Thursday, March 21st. TD Cowen dropped their price target on Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Finally, DA Davidson reiterated a “buy” rating and set a $65.00 price target on shares of Braze in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.12.

Braze Stock Down 3.1 %

NASDAQ BRZE traded down $1.34 on Tuesday, reaching $41.90. 1,112,211 shares of the stock traded hands, compared to its average volume of 850,376. The firm’s fifty day simple moving average is $48.33 and its 200 day simple moving average is $50.54. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -32.23 and a beta of 1.14. Braze, Inc. has a 12 month low of $25.76 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative return on equity of 28.24% and a negative net margin of 27.44%. As a group, equities research analysts forecast that Braze, Inc. will post -1.18 EPS for the current fiscal year.

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.