Braze, Inc. (NASDAQ:BRZE) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in Braze, Inc. (NASDAQ:BRZE) by 9.0% during the third quarter, HoldingsChannel.com reports. The fund owned 10,482 shares of the company’s stock after acquiring an additional 866 shares during the period. Harbor Capital Advisors Inc.’s holdings in Braze were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Stephens Investment Management Group LLC bought a new stake in shares of Braze in the 3rd quarter worth approximately $20,794,000. Granite Investment Partners LLC bought a new stake in Braze in the second quarter valued at $12,925,000. Point72 Asset Management L.P. bought a new stake in Braze in the second quarter valued at $10,166,000. Peregrine Capital Management LLC acquired a new position in shares of Braze during the second quarter valued at $7,349,000. Finally, Industry Ventures L.L.C. bought a new position in shares of Braze during the second quarter worth about $7,332,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Braze Stock Performance

NASDAQ BRZE opened at $35.02 on Friday. The stock has a market capitalization of $3.60 billion, a P/E ratio of -29.68 and a beta of 1.03. The business’s fifty day moving average is $33.66 and its two-hundred day moving average is $37.86. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53.

Braze (NASDAQ:BRZE) last issued its quarterly 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 firm had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative return on equity of 25.89% and a negative net margin of 22.01%. Braze’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. On average, research analysts forecast that Braze, Inc. will post -1.02 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BRZE. UBS Group cut their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. JMP Securities reaffirmed a “market outperform” rating and set a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. Oppenheimer reduced their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. DA Davidson lowered their target price on Braze from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, TD Cowen reduced their price target on Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

Insider Activity

In related news, CEO William Magnuson sold 17,840 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $41.37, for a total value of $738,040.80. Following the completion of the sale, the chief executive officer now owns 600,749 shares in the company, valued at approximately $24,852,986.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Susan Wiseman sold 3,833 shares of Braze stock in a transaction on Friday, August 16th. The stock was sold at an average price of $41.37, for a total transaction of $158,571.21. Following the transaction, the general counsel now owns 210,507 shares in the company, valued at approximately $8,708,674.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Magnuson sold 17,840 shares of the firm’s stock in a transaction dated 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 owns 600,749 shares of the company’s stock, valued at $24,852,986.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,658 shares of company stock worth $7,980,396 over the last 90 days. 24.03% of the stock is owned by company insiders.

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.