Versor Investments LP Makes New Investment in Braze, Inc. (NASDAQ:BRZE)

Versor Investments LP purchased a new position in Braze, Inc. (NASDAQ:BRZE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,947 shares of the company’s stock, valued at approximately $348,000.

Several other large investors also recently made changes to their positions in BRZE. Neo Ivy Capital Management acquired a new stake in Braze in the 4th quarter worth approximately $40,000. Covestor Ltd raised its position in shares of Braze by 401.1% in 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 lifted its stake in shares of Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after buying an additional 276 shares during the last quarter. Canton Hathaway LLC boosted its holdings in shares of Braze by 149.9% during the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after buying an additional 1,187 shares during the period. Finally, RiverPark Advisors LLC grew its stake in Braze by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after buying an additional 1,411 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Braze from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Canaccord Genuity Group increased their target price on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Citigroup lifted 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. TD Cowen reduced their price objective on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $60.50.

Braze Trading Up 2.2 %

NASDAQ BRZE opened at $44.13 on Friday. Braze, Inc. has a 1-year low of $33.93 and a 1-year high of $61.53. The stock’s 50 day moving average is $41.27 and its two-hundred day moving average is $43.17. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -34.48 and a beta of 1.07.

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

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 2,262 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the sale, the chief accounting officer now owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Pankaj Malik sold 2,262 shares of Braze stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $38.14, for a total value of $86,272.68. Following the completion of the transaction, the chief accounting officer now owns 74,361 shares in the company, valued at $2,836,128.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the sale, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,898 shares of company stock valued at $8,081,257. 24.03% of the stock is currently 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.