Braze, Inc. (NASDAQ:BRZE) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 6.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,845 shares of the company’s stock after acquiring an additional 846 shares during the period. ProShare Advisors LLC’s holdings in Braze were worth $577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in Braze during the fourth quarter worth $40,000. Covestor Ltd raised its position in shares of Braze by 401.1% during the 1st quarter. Covestor Ltd now owns 922 shares of the company’s stock worth $41,000 after purchasing an additional 738 shares during the last quarter. Comerica Bank lifted its stake in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares in the last quarter. Canton Hathaway LLC boosted 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 buying an additional 1,187 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in Braze by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 1,802 shares of the company’s stock worth $80,000 after buying an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Braze Stock Performance

Shares of BRZE opened at $33.22 on Monday. The company’s 50-day simple moving average is $39.73 and its 200-day simple moving average is $40.65. Braze, Inc. has a 1 year low of $31.80 and a 1 year high of $61.53. The stock has a market capitalization of $3.38 billion, a PE ratio of -25.95 and a beta of 1.07.

Braze (NASDAQ:BRZE) last posted its quarterly earnings results 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 return on equity of 25.89% and a negative net margin of 22.01%. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $141.32 million. During the same quarter last year, the company earned ($0.30) EPS. Braze’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that Braze, Inc. will post -1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Braze from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Loop Capital restated a “buy” rating and set a $75.00 price target on shares of Braze in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Braze in a report on Tuesday, September 24th. Oppenheimer lowered their target price on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Finally, Barclays dropped their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $59.18.

Insider Transactions at Braze

In other news, General Counsel Susan Wiseman sold 3,558 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total value of $136,662.78. Following the completion of the transaction, the general counsel now owns 221,840 shares in the company, valued at approximately $8,520,874.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Susan Wiseman sold 3,558 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $38.41, for a total transaction of $136,662.78. Following the transaction, the general counsel now directly owns 221,840 shares in the company, valued at $8,520,874.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Pankaj Malik sold 1,381 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $41.12, for a total transaction of $56,786.72. Following the sale, the chief accounting officer now owns 72,980 shares of the company’s stock, valued at approximately $3,000,937.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,965 shares of company stock valued at $7,878,650. Corporate 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.