Braze, Inc. (NASDAQ:BRZE) Stake Lessened by Ieq Capital LLC

Ieq Capital LLC decreased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,076 shares of the company’s stock after selling 1,289 shares during the quarter. Ieq Capital LLC owned 0.22% of Braze worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BRZE. Comerica Bank lifted its position 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 buying an additional 276 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after acquiring an additional 283 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Braze by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the last quarter. American International Group Inc. grew its stake in Braze by 1.2% in the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Arizona State Retirement System increased its position in 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 purchasing an additional 712 shares during the last quarter. 90.47% of the stock is owned by institutional investors and hedge funds.

Braze Price Performance

NASDAQ BRZE opened at $36.39 on Friday. The company’s fifty day moving average is $40.49 and its two-hundred day moving average is $41.51. Braze, Inc. has a 52-week low of $33.24 and a 52-week high of $61.53. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -28.43 and a beta of 1.07.

Braze (NASDAQ:BRZE) last released its earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping 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 return on equity of 25.89% and a negative net margin of 22.01%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. As a group, sell-side analysts expect that Braze, Inc. will post -1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BRZE. Canaccord Genuity Group boosted their price target on Braze from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 7th. BTIG Research cut their price target on shares of Braze from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 31st. DA Davidson reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Braze in a research note on Friday, September 6th. Oppenheimer reissued an “outperform” rating and set a $60.00 target price on shares of Braze in a research report on Wednesday, June 12th. Finally, TD Cowen reduced their price target on Braze from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Seventeen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $60.50.

Insider Activity

In related news, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.65, for a total value of $2,282,500.00. Following the completion of the transaction, the insider now directly owns 199,963 shares in the company, valued at $9,128,310.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Myles Kleeger sold 50,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.65, for a total value of $2,282,500.00. Following the sale, the insider now owns 199,963 shares of the company’s stock, valued at $9,128,310.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Magnuson sold 17,840 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $738,040.80. Following the completion of the transaction, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at approximately $24,852,986.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,727 shares of company stock worth $8,140,693. Company insiders own 24.03% of the company’s stock.

Braze 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.