Citizens Financial Group Inc. RI Invests $565,000 in Braze, Inc. (NASDAQ:BRZE)

Citizens Financial Group Inc. RI acquired a new stake in Braze, Inc. (NASDAQ:BRZE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,550 shares of the company’s stock, valued at approximately $565,000.

Other institutional investors have also modified their holdings of the company. M&G Plc purchased a new position in Braze in the first quarter valued at about $6,724,000. Occudo Quantitative Strategies LP acquired a new stake in Braze during the 4th quarter valued at approximately $5,397,000. Vanguard Group Inc. increased its holdings in Braze by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock worth $261,146,000 after purchasing an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Braze in the 1st quarter valued at approximately $5,714,000. Finally, Swiss National Bank boosted its stake in shares of Braze by 14.3% during the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock valued at $4,696,000 after buying an additional 13,300 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BRZE shares. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Braze in a research report on Friday, September 6th. Barclays reduced their price target 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. Piper Sandler reissued an “overweight” rating and issued a $51.00 price objective on shares of Braze in a report on Friday, September 6th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of Braze in a research note on Friday, September 6th. Seventeen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.50.

Insider Buying and Selling at Braze

In other news, CAO Pankaj Malik sold 2,618 shares of the stock in a transaction on Friday, June 21st. The stock was 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 of the company’s stock, valued at $2,699,428.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Pankaj Malik sold 2,618 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $35.23, for a total transaction of $92,232.14. Following the transaction, the chief accounting officer now owns 76,623 shares in the company, valued at $2,699,428.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Magnuson sold 17,840 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 in the company, valued at approximately $24,852,986.13. The disclosure for this sale can be found here. Insiders have sold 191,345 shares of company stock valued at $8,232,925 in the last quarter. Corporate insiders own 24.03% of the company’s stock.

Braze Stock Down 1.7 %

BRZE stock opened at $34.99 on Thursday. The stock has a market cap of $3.56 billion, a PE ratio of -27.34 and a beta of 1.07. The firm’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $41.74. Braze, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. Equities analysts forecast that Braze, Inc. will post -1.05 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.