The Manufacturers Life Insurance Company Purchases 3,858 Shares of Braze, Inc. (NASDAQ:BRZE)

The Manufacturers Life Insurance Company boosted its position in Braze, Inc. (NASDAQ:BRZE) by 12.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 34,593 shares of the company’s stock after buying an additional 3,858 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Braze were worth $1,344,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. M&G Plc bought a new position in Braze in the first quarter valued at about $6,724,000. Vanguard Group Inc. boosted its holdings in Braze by 2.6% in the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after acquiring an additional 148,366 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in Braze during the first quarter worth about $5,714,000. Swiss National Bank grew its position in shares of Braze by 14.3% during the 1st quarter. Swiss National Bank now owns 106,000 shares of the company’s stock worth $4,696,000 after buying an additional 13,300 shares during the period. Finally, Sei Investments Co. grew its position in shares of Braze by 12.9% during the 1st quarter. Sei Investments Co. now owns 112,970 shares of the company’s stock worth $5,005,000 after buying an additional 12,878 shares during the period. Institutional investors own 90.47% of the company’s stock.

Braze Stock Up 2.6 %

Shares of Braze stock opened at $30.71 on Friday. Braze, Inc. has a 12-month low of $29.18 and a 12-month high of $61.53. The stock has a market cap of $3.12 billion, a P/E ratio of -23.99 and a beta of 1.03. The business’s 50 day moving average is $37.64 and its 200-day moving average is $39.36.

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

Insider Transactions at Braze

In related news, Director Fernando Machado sold 1,377 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $30.65, for a total transaction of $42,205.05. Following the completion of the sale, the director now directly owns 8,937 shares in the company, valued at $273,919.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Braze news, 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 value of $42,205.05. Following the completion of the transaction, the director now directly owns 8,937 shares in the company, valued at approximately $273,919.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Isabelle Winkles sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $42.18, for a total value of $189,810.00. Following the transaction, the chief financial officer now owns 242,627 shares of the company’s stock, valued at $10,234,006.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,284 shares of company stock valued at $7,928,732. 24.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRZE. Scotiabank upgraded Braze from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $48.00 to $56.00 in a research report on Wednesday, July 10th. Oppenheimer decreased their target price on Braze from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Piper Sandler decreased their target price on Braze from $51.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group decreased their target price on Braze from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of Braze in a research report on Tuesday, September 24th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Braze presently has an average rating of “Buy” and a consensus price target of $58.53.

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.