US Bancorp DE Boosts Stock Holdings in Braze, Inc. (NASDAQ:BRZE)

US Bancorp DE grew its position in shares of Braze, Inc. (NASDAQ:BRZE) by 38.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,737 shares of the company’s stock after purchasing an additional 7,103 shares during the quarter. US Bancorp DE’s holdings in Braze were worth $832,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares in the last quarter. Comerica Bank increased its holdings in shares of Braze by 29.4% during the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after purchasing an additional 276 shares in the last quarter. Quarry LP purchased a new position in shares of Braze during the 2nd quarter valued at approximately $50,000. Advisors Asset Management Inc. increased its holdings in Braze by 17.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock worth $85,000 after acquiring an additional 290 shares in the last quarter. Finally, Canton Hathaway LLC increased its holdings in Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock worth $77,000 after acquiring an additional 1,187 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

Braze Trading Down 1.2 %

Shares of BRZE opened at $34.59 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The firm has a 50-day moving average price of $33.45 and a 200 day moving average price of $37.81. The firm has a market capitalization of $3.55 billion, a P/E ratio of -29.31 and a beta of 1.03.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $141.32 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Braze’s quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts predict that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

BRZE has been the subject of several recent analyst reports. TD Cowen cut their price target on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler cut their price target on shares of Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Loop Capital reissued a “buy” rating and issued a $75.00 price target on shares of Braze in a report on Tuesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.32.

Insider Activity at Braze

In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $30.65, for a total value of $42,205.05. Following the completion of the sale, the director now owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Braze 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 transaction of $738,040.80. Following the completion of the transaction, the chief executive officer now owns 600,749 shares of the company’s stock, valued at $24,852,986.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fernando Machado sold 1,377 shares of the stock in a transaction dated 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 directly owns 8,937 shares of the company’s stock, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,658 shares of company stock valued at $7,980,396. 24.03% of the stock is owned by company insiders.

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.