LGT Fund Management Co Ltd. Buys Shares of 7,919 Braze, Inc. (NASDAQ:BRZE)

LGT Fund Management Co Ltd. bought a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,919 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds have also bought and sold shares of the stock. Comerica Bank lifted its position in 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 purchasing an additional 276 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Braze by 1.2% in the 1st quarter. American International Group Inc. now owns 26,369 shares of the company’s stock worth $1,168,000 after acquiring an additional 310 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Braze by 4.8% in the 2nd quarter. Arizona State Retirement System now owns 15,466 shares of the company’s stock worth $601,000 after acquiring an additional 712 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Braze by 401.1% in the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after acquiring an additional 738 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $68.00 price objective on shares of Braze in a report on Friday, September 6th. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of Braze in a report on Friday, September 6th. Citigroup boosted their price objective on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, June 7th. BTIG Research lowered their price objective on shares of Braze from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Canaccord Genuity Group lifted their target price on shares of Braze from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Braze presently has an average rating of “Buy” and an average target price of $60.50.

Braze Trading Down 5.5 %

Shares of Braze stock opened at $34.29 on Wednesday. The company’s fifty day simple moving average is $41.04 and its two-hundred day simple moving average is $42.52. The company has a market cap of $3.48 billion, a P/E ratio of -26.79 and a beta of 1.07. Braze, Inc. has a 12-month low of $33.24 and a 12-month high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 26.10%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) EPS. Analysts predict that Braze, Inc. will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling at Braze

In other Braze news, CAO Pankaj Malik sold 2,262 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $38.14, for a total transaction of $86,272.68. Following the transaction, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at approximately $2,836,128.54. The sale 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 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 directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Susan Wiseman sold 3,447 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $44.00, for a total transaction of $151,668.00. Following the completion of the sale, the general counsel now directly owns 206,930 shares in the company, valued at $9,104,920. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,345 shares of company stock valued at $8,232,925. 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.