Braze, Inc. (NASDAQ:BRZE) Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Braze, Inc. (NASDAQ:BRZE) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,904 shares of the company’s stock after buying an additional 5,355 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Braze were worth $579,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BRZE. Comerica Bank grew its position in Braze by 29.4% in the first quarter. Comerica Bank now owns 1,216 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares in the last quarter. Blair William & Co. IL boosted its holdings in Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock worth $502,000 after purchasing an additional 283 shares in the last quarter. Amalgamated Bank raised its holdings in Braze by 18.9% during the third quarter. Amalgamated Bank now owns 2,253 shares of the company’s stock valued at $73,000 after buying an additional 358 shares in the last quarter. Creative Planning lifted its position in shares of Braze by 1.7% in the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after buying an additional 384 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Braze by 41.5% during the 3rd quarter. KBC Group NV now owns 2,097 shares of the company’s stock worth $68,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Braze from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. Oppenheimer lowered their target price on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Barclays decreased their price target on shares of Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, UBS Group dropped their price objective on Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Braze has an average rating of “Moderate Buy” and an average target price of $53.95.

Braze Price Performance

BRZE opened at $41.46 on Friday. The business has a fifty day simple moving average of $34.10 and a 200 day simple moving average of $37.29. Braze, Inc. has a 1 year low of $29.18 and a 1 year high of $61.53. The company has a market capitalization of $4.26 billion, a PE ratio of -35.14 and a beta of 1.15.

Braze (NASDAQ:BRZE) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.09 EPS for the quarter, beating 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 business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $141.32 million. During the same period in the prior year, the company posted ($0.30) earnings per share. Braze’s revenue was up 26.4% compared to the same quarter last year. Equities analysts anticipate that Braze, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Braze

In other news, insider Myles Kleeger sold 6,342 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $36.03, for a total transaction of $228,502.26. Following the completion of the sale, the insider now directly owns 184,396 shares in the company, valued at approximately $6,643,787.88. This represents a 3.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the sale, the insider now directly owns 56,830 shares in the company, valued at approximately $1,720,244.10. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,979 shares of company stock valued at $3,688,914 in the last quarter. Company insiders own 24.03% of the company’s stock.

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.