Braze, Inc. (NASDAQ:BRZE) Shares Bought by Quest Partners LLC

Quest Partners LLC boosted its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 923.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,373 shares of the company’s stock after purchasing an additional 31,918 shares during the period. Quest Partners LLC’s holdings in Braze were worth $1,374,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in Braze during the 4th quarter worth about $40,000. Covestor Ltd lifted its position in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after acquiring an additional 738 shares in the last quarter. Comerica Bank boosted its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the period. Canton Hathaway LLC grew its position in 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 purchasing an additional 1,187 shares in the last quarter. Finally, RiverPark Advisors LLC raised its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock valued at $80,000 after purchasing an additional 1,411 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BRZE shares. BTIG Research decreased their target price on Braze from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 31st. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of Braze in a research note on Friday. Raymond James dropped their target price on Braze from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, June 7th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Braze in a report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $51.00 target price on shares of Braze in a research report on Friday. Seventeen analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $60.50.

Insider Buying and Selling

In other Braze news, CAO Pankaj Malik sold 2,618 shares of Braze stock in a transaction on Friday, June 21st. The shares were sold at an average price of $35.23, for a total value of $92,232.14. Following the sale, the chief accounting officer now directly owns 76,623 shares in the company, valued at approximately $2,699,428.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William Magnuson sold 17,840 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Pankaj Malik sold 2,618 shares of Braze stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.23, for a total value of $92,232.14. Following the completion of the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at approximately $2,699,428.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,345 shares of company stock valued at $8,232,925. Company insiders own 24.03% of the company’s stock.

Braze Trading Up 2.0 %

Shares of NASDAQ BRZE opened at $36.28 on Tuesday. The firm has a fifty day simple moving average of $41.14 and a two-hundred day simple moving average of $42.68. The firm has a market capitalization of $3.69 billion, a PE ratio of -28.34 and a beta of 1.07. Braze, Inc. has a 12 month low of $33.93 and a 12 month high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 26.10% and a negative net margin of 22.01%. The firm had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts predict that Braze, Inc. will post -1.21 earnings per share 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.