Goldman Sachs Group Inc. Acquires 65,973 Shares of Braze, Inc. (NASDAQ:BRZE)

Goldman Sachs Group Inc. increased its holdings in Braze, Inc. (NASDAQ:BRZE) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,923 shares of the company’s stock after purchasing an additional 65,973 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.38% of Braze worth $19,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Morgan Stanley boosted its position in Braze by 20.1% during the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock valued at $251,769,000 after acquiring an additional 899,894 shares in the last quarter. Vanguard Group Inc. boosted its position in Braze by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,266,393 shares of the company’s stock valued at $246,099,000 after acquiring an additional 228,089 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Braze by 537.4% in the 4th quarter. 1832 Asset Management L.P. now owns 1,527,100 shares of the company’s stock worth $81,135,000 after purchasing an additional 1,287,500 shares in the last quarter. Norges Bank bought a new stake in shares of Braze in the 4th quarter worth approximately $37,584,000. Finally, Fiera Capital Corp bought a new stake in shares of Braze in the 4th quarter worth approximately $31,153,000. 90.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRZE. JPMorgan Chase & Co. dropped their price target on Braze from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, March 28th. TD Cowen dropped their price target on Braze from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Oppenheimer reissued an “outperform” rating and issued a $60.00 price target on shares of Braze in a research report on Wednesday, June 12th. Citigroup boosted their price target on Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, UBS Group upgraded shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, March 21st. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $60.88.

Braze Trading Up 2.0 %

Shares of BRZE opened at $35.90 on Thursday. The firm has a market cap of $3.65 billion, a PE ratio of -28.05 and a beta of 1.06. The firm has a fifty day simple moving average of $39.32 and a two-hundred day simple moving average of $47.73. Braze, Inc. has a 1-year low of $33.93 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last announced its earnings results on Thursday, June 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $131.56 million. As a group, research analysts forecast that Braze, Inc. will post -1.21 EPS for the current fiscal year.

Insider Activity

In other news, CTO Jonathan Hyman sold 1,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the completion of the sale, the chief technology officer now owns 183,258 shares of the company’s stock, valued at approximately $7,777,469.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Jonathan Hyman sold 1,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.44, for a total transaction of $42,440.00. Following the completion of the sale, the chief technology officer now owns 183,258 shares of the company’s stock, valued at approximately $7,777,469.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Magnuson sold 17,839 shares of the business’s 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 sale, the chief executive officer now directly owns 618,675 shares of the company’s stock, valued at approximately $25,835,868. The disclosure for this sale can be found here. Insiders sold a total of 80,232 shares of company stock valued at $3,360,249 in the last 90 days. Company insiders own 24.03% of the company’s stock.

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.