SG Americas Securities LLC Purchases New Stake in Braze, Inc. (NASDAQ:BRZE)

SG Americas Securities LLC purchased a new stake in shares of Braze, Inc. (NASDAQ:BRZE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 19,598 shares of the company’s stock, valued at approximately $634,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Braze by 2.6% during the first quarter. Vanguard Group Inc. now owns 5,894,938 shares of the company’s stock valued at $261,146,000 after buying an additional 148,366 shares during the period. Champlain Investment Partners LLC grew its position in Braze by 6.6% during the first quarter. Champlain Investment Partners LLC now owns 2,084,805 shares of the company’s stock valued at $92,357,000 after buying an additional 128,645 shares during the period. Fiera Capital Corp lifted its holdings in Braze by 1.0% during the second quarter. Fiera Capital Corp now owns 780,630 shares of the company’s stock valued at $30,320,000 after purchasing an additional 7,570 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Braze by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 477,699 shares of the company’s stock valued at $18,554,000 after purchasing an additional 73,764 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Braze by 10.9% during the second quarter. Victory Capital Management Inc. now owns 391,977 shares of the company’s stock valued at $15,224,000 after purchasing an additional 38,504 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

Braze Trading Up 3.2 %

BRZE stock opened at $31.68 on Tuesday. The company’s 50 day moving average is $37.54 and its 200 day moving average is $39.12. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -24.75 and a beta of 1.03. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. The company had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. Braze’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) earnings per share. As a group, sell-side analysts forecast that Braze, Inc. will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Braze news, Director Fernando Machado sold 1,377 shares of Braze 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Braze news, Director Fernando Machado sold 1,377 shares of Braze 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan Wiseman sold 5,496 shares of Braze stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $42.00, for a total transaction of $230,832.00. Following the transaction, the general counsel now directly owns 221,840 shares in the company, valued at $9,317,280. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,403 shares of company stock valued at $7,811,946. 24.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on BRZE. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Braze in a report on Tuesday, September 24th. UBS Group dropped their price objective on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Scotiabank raised shares of Braze from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $48.00 to $56.00 in a report on Wednesday, July 10th. TD Cowen dropped their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Oppenheimer dropped their price objective on shares of Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Eighteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $58.53.

About Braze

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.