State of New Jersey Common Pension Fund D Has $1.40 Million Position in Braze, Inc. (NASDAQ:BRZE)

State of New Jersey Common Pension Fund D lessened its position in Braze, Inc. (NASDAQ:BRZE) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,234 shares of the company’s stock after selling 1,886 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Braze were worth $1,398,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BRZE. Covestor Ltd raised its holdings in shares of Braze by 401.1% in the first quarter. Covestor Ltd now owns 922 shares of the company’s stock valued at $41,000 after purchasing an additional 738 shares during the last quarter. Quarry LP acquired a new stake in Braze in the 2nd quarter valued at $50,000. Comerica Bank lifted its position in Braze by 29.4% during 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. Amalgamated Bank boosted its stake in shares of Braze by 18.9% during the 3rd quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock worth $73,000 after buying an additional 358 shares during the last quarter. Finally, Canton Hathaway LLC grew its holdings in shares of Braze by 149.9% in the 2nd quarter. Canton Hathaway LLC now owns 1,979 shares of the company’s stock valued at $77,000 after acquiring an additional 1,187 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Insider Transactions at Braze

In related news, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.27, for a total transaction of $1,720,244.10. Following the sale, the insider now owns 56,830 shares in the company, valued at approximately $1,720,244.10. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fernando Machado sold 1,377 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 approximately $273,919.05. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,207 shares of company stock valued at $5,366,986. 24.03% of the stock is owned by corporate insiders.

Braze Stock Performance

Shares of Braze stock opened at $34.51 on Tuesday. The firm has a 50-day moving average of $32.79 and a 200-day moving average of $37.53. Braze, Inc. has a 52-week low of $29.18 and a 52-week high of $61.53. The stock has a market cap of $3.55 billion, a PE ratio of -29.25 and a beta of 1.03.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler reduced their price target on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. JMP Securities reissued a “market outperform” rating and issued a $68.00 target price on shares of Braze in a research note on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price target on shares of Braze from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. TD Cowen decreased their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Braze in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.47.

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.