King Luther Capital Management Corp Acquires New Holdings in Braze, Inc. (NASDAQ:BRZE)

King Luther Capital Management Corp acquired a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 89,573 shares of the company’s stock, valued at approximately $3,479,000. King Luther Capital Management Corp owned 0.09% of Braze as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Comerica Bank grew its holdings 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 period. Blair William & Co. IL grew its holdings in Braze by 2.2% during the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after purchasing an additional 283 shares during the period. Advisors Asset Management Inc. grew its holdings 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 period. American International Group Inc. boosted its holdings in shares of 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 buying an additional 310 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Braze by 4.8% in the second quarter. Arizona State Retirement System now owns 15,466 shares of the company’s stock valued at $601,000 after buying an additional 712 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Braze Stock Performance

NASDAQ BRZE opened at $36.39 on Friday. The firm’s fifty day moving average price is $40.49 and its two-hundred day moving average price is $41.44. Braze, Inc. has a 1 year low of $33.24 and a 1 year high of $61.53. The firm has a market capitalization of $3.70 billion, a P/E ratio of -28.43 and a beta of 1.07.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, research analysts anticipate that Braze, Inc. will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Magnuson sold 17,840 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the transaction, the chief executive officer now directly owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Pankaj Malik sold 2,262 shares of the 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 transaction, the chief accounting officer now directly owns 74,361 shares of the company’s stock, valued at $2,836,128.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Magnuson sold 17,840 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were 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 owns 600,749 shares in the company, valued at $24,852,986.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,727 shares of company stock valued at $8,140,693. 24.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BRZE has been the subject of several research analyst reports. BTIG Research reduced their price target 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. Canaccord Genuity Group upped their price target on shares of Braze from $50.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. TD Cowen reduced their price target on shares of Braze from $65.00 to $52.00 and set a “buy” rating for the company in a report on Friday, May 31st. Piper Sandler reiterated an “overweight” rating and issued a $51.00 price target on shares of Braze in a report on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Friday, September 6th. Seventeen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.50.

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.