Dimensional Fund Advisors LP Decreases Stake in Braze, Inc. (NASDAQ:BRZE)

Dimensional Fund Advisors LP trimmed its position in shares of Braze, Inc. (NASDAQ:BRZE) by 19.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,784 shares of the company’s stock after selling 8,840 shares during the period. Dimensional Fund Advisors LP’s holdings in Braze were worth $1,468,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Braze in the 4th quarter valued at approximately $40,000. Goldman Sachs Group Inc. increased its holdings in Braze by 21.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 375,923 shares of the company’s stock valued at $19,973,000 after buying an additional 65,973 shares during the last quarter. Vanguard Group Inc. raised its stake in Braze by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 5,746,572 shares of the company’s stock valued at $305,315,000 after buying an additional 480,179 shares in the last quarter. Renaissance Capital LLC lifted its holdings in Braze by 5.1% during the 1st quarter. Renaissance Capital LLC now owns 34,885 shares of the company’s stock worth $1,545,000 after buying an additional 1,696 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its position in shares of Braze by 10.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 12,980 shares of the company’s stock worth $561,000 after acquiring an additional 1,205 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

Braze Stock Up 2.6 %

BRZE opened at $30.71 on Friday. Braze, Inc. has a 52 week low of $29.18 and a 52 week high of $61.53. The business has a 50 day moving average price of $37.64 and a two-hundred day moving average price of $39.29. The company has a market cap of $3.12 billion, a PE ratio of -23.99 and a beta of 1.03.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. As a group, sell-side analysts expect that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insider Transactions at Braze

In related news, Director Fernando Machado sold 1,377 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the transaction, the director now owns 8,937 shares of the company’s stock, valued at $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Phillip M. Fernandez sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the director now owns 15,269 shares of the company’s stock, valued at $610,760. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,284 shares of company stock worth $7,928,732. Company insiders own 24.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BRZE. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Loop Capital reissued a “buy” rating and set a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. Oppenheimer reduced their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Barclays dropped their target price 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. Finally, Piper Sandler reduced their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $58.53.

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.